Me too
The ASX notice refers to S444GA of the Act.....here's what it says....
CORPORATIONS ACT 2001 - SECT 444GA
Transfer of shares
(1) The administrator of a deed of company arrangement may transfer shares in the company if the administrator has obtained:
(a) the written consent of the owner of the shares; or
(b) the leave of the Court.
(2) A person is not entitled to oppose an application for leave under subsection (1) unless the person is:
(a) a member of the company; or
(b) a creditor of the company; or
(c) any other interested person; or
(d) ASIC.
(3) The Court may only give leave under subsection (1) if it is satisfied that the transfer would not unfairly prejudice the interests of members of the company.
Got me stuffed how the Court satisfied itself under clause 3 above!
Just goes to show that the small retail investor is more often than not at the mercy of a bunch of greedy, selfish crooks.
Me too The ASX notice refers to S444GA of the Act.....here's...
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