I remember brockman resources during the GFC. It has raised over...

I remember brockman resources during the GFC. It has raised over 100 million pre crash and ended up valued at half of cash backing at one point. By 2009 a Hong Kong limo company called wah nam, who also had a derelict mine in China saw the opportunity and raised cash to start hooking in and became a substantial shareholder. Seemed a bit weird, but they kept buying and eventually launched a takeover when they got over 19.9%. Their ownership in Brockman constituted most of their own value.

What no one knew was they also had all these associated parties who'd snared about another 25% (give or take), Brockman squealed to the takeovers panel and the takeovers panel ordered that the associated parties couldn't tip their shares into the takeover. Fine. Trade in the company had dwindled to nothing, but about a month after the ruling, massive volumes started being traded for about two weeks. If you ran the numbers, they added up to about 25% of the company. About a week later there was a sudden flood of acceptances and Wah Nam suddenly had over 50%.

I've seen some dodgy stuff, but that one was brazen.