All the evidence is on a platter for the regulators.
Nice update re the Omnet loan on the shareholder action website on 2 July 2017:
Seems that while telling the market on 22 Feb and 1 Mar that LWP remain hopeful of some return on the loan which was secured by a fixed and floating charge over the company, the previous November at the Omnet creditors meeting, the company was confirming it would not make a claim on the company or the deed administrator.
Based upon this, a few questions there for the company and the regulator:
Why would a company lend $300,000 at 48% interest rate?
What was the link for lending the money to this company?
Did the fixed and floating charge ever get put in place?
Why the announcement to the market being hopeful of a return given that LWP was not making a claim against the company.
LWP Price at posting:
0.1¢ Sentiment: None Disclosure: Not Held
