Voluntary Administrators’ Supplementary Report, page-289

Just a repeat to all holders and interested parties - be very wary of joining any groups and revealing private information to unknown people on the internet of who you have no idea how invested they are or what they are actually up to.


ASIC will get a report from administrator when required - that is the process - unlikely to provide any breaches IMO.l
AS NUH were IMO being advised ( on shareholders $ ) well before official safe harbour even if there were some error in procedure NUH are well covered by the expensive advisors they had employed .

By all means send something to ASIC but they have a very thick skin and a very high hurdle IMO before any though of action is started by them. Frankly they are not going to do much when they have a document from professional KPMG as administrator and assuming DOCA gets executed a completed administration in which KPMG declare all procedures were followed. If DOCA is executed it means creditors ( the only people who matter) are satisfied.

You have buckleys chance of a misconduct claim on KPMG IMO - they have a well rehearsed process and lots of protection and $, time , form letter replies to ASIC etc to squash any challenge . They never risk their golden goose of administration and liquidation as no need they get paid either way.

If you want ASIC to take any notice you need an insider or 2 and documentation not hearsay and a smoking gun. Guess what - the insiders are still on the inside and ex insiders are contractually silent IMO .

If you want a class action there are many hurdles - a completed VA is a hurdle too far for 99% of legal funders simply as who will take on KPMG. It doesn't means a legal firm won't take your $ until you stop paying but .............................how much time and $ have you got

No I don't believe what has happened to shareholders is " fair" however to say there wasn't warning signs that generous posters on this forum gave their experience to highlight inconsistencies with general industry and business practice is a underestimate let alone the accounts when ultimately couldn't raise cash . The red flags were abundant and ignored or tried to be yelled down by fallacy posts with obvious lack of business or industry specific knowledge .

Truth is it is ASX microcaps and a poorly regulated market with few serious penalties and that is what makes it so high risk especially............... nah can't really write what I should here as I don't want the grief.

@Laup56 - look back at all the times you "LOL" poster who provided information that has now proven to be correct, some was known as they knew the industry , others as it was just general knowledge, others as it was not normal business practice and yet more was because they kept doing research and speaking with knowledgeable people. Most did abbreviated posts not to highlight where their info comes from but enough clues so it could be researched.

Amazing how much some must have had invested to be so hurt to want to try a action whilst if their HC postings are anything to go by they refused to accept any information or follow up speculation that others supplies

Even you new best mate doesn't want to invest much in any action it seems