Or all of the above Marcom.All other efforts to out number Castlereagh supportors have failedThis shows that she doesn't have the numbers because -
a. ASIC may moving to cancel the first rights issue or
b. she doesn't have enough votes from the rights issue or financial advisors or
c. she is a complete and utter bitch!
What you say is fair and commonsense Blueboy1, but unfortunately this does not always seem to be the norm in this unfortunate affair. - still we can but hope.JohnH. In my lay opinion:-
If as Judge Gordon found that the plaintiffs (PIFAG) "sought relief,other than damages,they should have moved earlier" then surely this can be also used as a precedent in the ensuing case tomorrow.....Wellington is seeking relief other than damages in trying to stop the meeting on the 23rd,with only a day to spare,knowing that members have arranged (and paid for) accommodation,airfares and the like,however Wellington has known the meeting was to take place on the 23rd and even agreed to the deferment of it.
Why then, should there be a double standard?
If Judge Gordon found that the plaintiffs should have moved earlier then the precedent exists that Wellington should also have moved earlier to prevent the meeting on the 23rd.
Regards,
Blueboy1
It appears the rights issue was poorly subscribed to anyway with approx only a third of unitholders taking up the offer.
'A third project, a planned 16-storey unit project at Main Beach, has now been thrown in to doubt since it requires up to $25 million in capital, she said.'
Well if a total of $25.9million had been raised as was hoped for by WC to complete 3 projects when one project alone needed that amount to complete what was WC going to do? Get half way through the Main Beach development then WC offer a joint venture to one of their cronies to share in the profits as in the Wollongong deal? Who needs transparency when it is so obvious that the whole placement and rights issue was a farce akin to blackmail right from the start. We copped the 'vote for WC or your fund will be liquidated' campaign where we were conned, but we are a lot wiser and united these days and very much aware of these type of scare mongering tactics.
Whats your next move to RECRUIT support WC? All the smear campaign did was align WC with gutless supposedly anonymous cowards willing to stop at nothing to help WC retain control of the PIF. What is in those records that so desperately needs to be kept from a forensic accountant?
Seamisty
Interesting revelation from yesterday's Federal Court decision is: "Some of the Placement Units have been traded on the NSX". Well isn't that just fantastic: more downward pressure on the NSX price.
Interesting revelation from yesterday's Federal Court decision is: "Some of the Placement Units have been traded on the NSX". Well isn't that just fantastic: more downward pressure on the NSX price.
Duped,
there is something very fishy about that statement....Who, in a right business mind, would buy a share at 10 cents, and sell it a few days later for 8.8cents...that is unless,they were setting up a cunning situation that could be used to their advantage at some future date.
Now whose name springs to mind, that just might think like that?...Need any clues!
Justice DowsettCourt No.1, Level 7
9:15 AM Interlocutory Hearing
1QUD140/2011WELLINGTON CAPITAL LIMITED AS RESPONSIBLE ENTITY OF THE PREMIUM INCOME FUND v PREMIUM INCOME FUND ACTION GROUP INCORPORATED (NSW INCORPORATED ASSOCIATION NO. 9894759) & ORS
Seems that the hearing tomorrow is only a small part of something much larger since the matter is only interlocutory in nature.
It'd be interesting to see what claim/s WC is making.
The decision, if there is one tomorrow will be after 4.15pm -
Justice Dowsett Court No. 1, Level 7
9:15 AM Interlocutory Hearing
1 QUD140/2011 WELLINGTON CAPITAL LIMITED AS RESPONSIBLE ENTITY OF THE PREMIUM INCOME FUND v PREMIUM INCOME FUND ACTION GROUP INCORPORATED (NSW INCORPORATED ASSOCIATION NO. 9894759) & ORS
10:15 AM Part Heard
2 QUD107/2010 HOMELOAN REFUNDS PTY LTD & ANOR v UNIVERSAL INTEGRITY PTY LTD & ORS
4:15 PM Interlocutory Hearing
3 QUD140/2011 WELLINGTON CAPITAL LIMITED AS RESPONSIBLE ENTITY OF THE PREMIUM INCOME FUND v PREMIUM INCOME FUND ACTION GROUP INCORPORATED (NSW INCORPORATED ASSOCIATION NO. 9894759) & ORS
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