Based on SOC directors of CHM took money from CHM bank account and shares were issued that ended up in Nicu(MMX) which were sold and the cash assisted in paying for asset. (30 to 40%)
My understanding of law is that you cannot use your position as a director in a company to benefit youself or another company in which you have an interest. If other company (in this case MMX and Crossland) have benefited then they cannot benefit from another.
Court has power to award asset or part asset to CHM.
MMX need to mount credible defence as to why they got cash and how the CHM shares ended in MMX hands to sell to raise cash.
If what is alleged is true then there is a very strong chance of winning the case.
I think stronger chance that if CHM can demonstrate ability to financially continue the fight and the above starts to be shown to be true that some form of settlement will occur.
The directors and AH would not have started this without serious reseach and construction of case IMO
CHM Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
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