Urgent ASX intervention NOW, page-45

The real injustice here in this process, is that in a Receivership, Administration or a Liquidation - is that NO ONE is looking after the interests of Shareholders.

That's just the way it is.

And it is totally Unjust. That point is raised every time a company goes bust - but nothing ever changes.

The Receivers, Admin and Liquidators must act in compliance with rules and regs.
But each of those appointees act for the Creditors!

Once any of the above firms are appointed, they take over the powers of the Board. The Board has no powers. It is supposed to be the Board which has the duty to look after the interests of the company and all its shareholders.
But if the Board is relegated to the sidelines, with no powers, then their role is superfluous.

And of course we shareholders had bugger-all info prior to Admin - and now NIL info now!
We will only learn of matters after the event.
Did you know that there is a Data Room with tyre-kickers already there?
Did you know the Data Room has already (evidently) been open for weeks !?

Shareholders are on their own.

And that's the point Doc is referring to.
The ONLY people who will or can look after the interests of shareholders - are those very same shareholders themselves.

So it is up to shareholders to get ASX to look at the circumstances surrounding the appointment of the Receiver, and the very obvious potential for conflict of interest with some of the parties involved.

Every single shareholder faces the very real prospect of losing 100% of their investment.
A total loss!

It will be up to the determined shareholders on the register to put up a fight, and demand some accountability, and actually question what various parties are up to.