Recovering from misleading companies.

[Ext User(John)]

Small shareholder has secured an equal right to creditors to recover from
collapsed company Sons of Gwalia, due to the company's misleading and
deceptive conduct.

http://www.news.com.au/business/story/0,23636,21148193-31037,00.html

Maybe I should try and recover my loses in pasminco. I don't think they told
anyone they had enetered the currency speculation game before they imploded
with the dollars collapse. Maybe I'll take an equal number of shares in
zinifex!!

Cheers

[Ext User(BernardZ)]

In article <%LWvh.961$sd2.170@news-server.bigpond.net.au>,
some@where.com.au says...
>
>
> Small shareholder has secured an equal right to creditors to recover from
> collapsed company Sons of Gwalia, due to the company's misleading and
> deceptive conduct.
>
> http://www.news.com.au/business/story/0,23636,21148193-31037,00.html
>
> Maybe I should try and recover my loses in pasminco. I don't think they told
> anyone they had enetered the currency speculation game before they imploded
> with the dollars collapse. Maybe I'll take an equal number of shares in
> zinifex!!
>
> Cheers
>
>
>

Now as this issue is vague under the law, the liquidator will do nothing
unless someone gets a judges decision as per this Sons of Gwalia
decision.

What you should do now is contact the company liquidator. Explain to
them the situation. If there is still time they will supply you with a
form which you will need to fill out. Say on the form that you cannot
see how the companies announcements gave you an accurate state of
affairs and it certainly included nothing about what happened. It is
misleading.

Put in the greater of the amount of what you paid or the total value of
the shares at the last relevant report. Then send it back to the
liquidator. Then you have to wait to see if it gets to court.

Note the odds are you will get nothing.

--
If you are upset with my comments then some way you must care what I
think or with logic. Since it is unlikely to be me it must be logic.

Observations of Bernard - No 109

[Ext User(John)]

The interesting and serious part of this will be just what level of failure
to provide information, or incorrect information, the courts see as
misleading, and what connection there needs to exist between the deception
and your decison to buy or failure to sell.

If being able to point to any infomation anomaly, which probably always
exists when a company implodes, and say I lost money, and that's the reason,
then the security of creditors really did just get substantially worse.

However I'm inclined to think that proving your loss was caused by the
deception will be nigh impossible, and in any case each shareholder may need
to mount a separte action to establish the link.

Maybe the poor creditors don't have to worry all that much, and I shouldn't
bother contacting NAB and asking for some money just yet.







"BernardZ" <bernardZ@Nospam.com> wrote in message
news:MPG.202af663cff0d46a989d22@news...
> In article <%LWvh.961$sd2.170@news-server.bigpond.net.au>,
> some@where.com.au says...
>>
>>
>> Small shareholder has secured an equal right to creditors to recover from
>> collapsed company Sons of Gwalia, due to the company's misleading and
>> deceptive conduct.
>>
>> http://www.news.com.au/business/story/0,23636,21148193-31037,00.html
>>
>> Maybe I should try and recover my loses in pasminco. I don't think they
>> told
>> anyone they had enetered the currency speculation game before they
>> imploded
>> with the dollars collapse. Maybe I'll take an equal number of shares in
>> zinifex!!
>>
>> Cheers
>>
>>
>>
>
> Now as this issue is vague under the law, the liquidator will do nothing
> unless someone gets a judges decision as per this Sons of Gwalia
> decision.
>
> What you should do now is contact the company liquidator. Explain to
> them the situation. If there is still time they will supply you with a
> form which you will need to fill out. Say on the form that you cannot
> see how the companies announcements gave you an accurate state of
> affairs and it certainly included nothing about what happened. It is
> misleading.
>
> Put in the greater of the amount of what you paid or the total value of
> the shares at the last relevant report. Then send it back to the
> liquidator. Then you have to wait to see if it gets to court.
>
> Note the odds are you will get nothing.
>
> --
> If you are upset with my comments then some way you must care what I
> think or with logic. Since it is unlikely to be me it must be logic.
>
> Observations of Bernard - No 109
>
>
>

[Ext User(John)]

[Don't you love top posters..., I'm too lazy to go all the way to the
bottom]

Yes a reality check...... Indeed.. sigh..

Guess you can write, but can't read...........




"bernardz" <bernardz@mail.com> wrote in message
news:1170290493.307474.142220@v45g2000cwv.googlegr oups.com...
> On Feb 1, 12:40 am, "John" <s...@where.com.au> wrote:
>> The interesting and serious part of this will be just what level of
>> failure
>> to provide information, or incorrect information, the courts see as
>> misleading, and what connection there needs to exist between the
>> deception
>> and your decison to buy or failure to sell.
>>
>> If being able to point to any infomation anomaly, which probably always
>> exists when a company implodes, and say I lost money, and that's the
>> reason,
>> then the security of creditors really did just get substantially worse.
>>
>> However I'm inclined to think that proving your loss was caused by the
>> deception will be nigh impossible, and in any case each shareholder may
>> need
>> to mount a separte action to establish the link.
>>
>> Maybe the poor creditors don't have to worry all that much, and I
>> shouldn't
>> bother contacting NAB and asking for some money just yet.
>>
>> "BernardZ" <berna...@Nospam.com> wrote in message
>>
>> news:MPG.202af663cff0d46a989d22@news...
>>
>> > In article <%LWvh.961$sd2....@news-server.bigpond.net.au>,
>> > s...@where.com.au says...
>>
>> >> Small shareholder has secured an equal right to creditors to recover
>> >> from
>> >> collapsed company Sons of Gwalia, due to the company's misleading and
>> >> deceptive conduct.
>>
>> >>http://www.news.com.au/business/story/0,23636,21148193-31037,00.html
>>
>> >> Maybe I should try and recover my loses in pasminco. I don't think
>> >> they
>> >> told
>> >> anyone they had enetered the currency speculation game before they
>> >> imploded
>> >> with the dollars collapse. Maybe I'll take an equal number of shares
>> >> in
>> >> zinifex!!
>>
>> >> Cheers
>>
>> > Now as this issue is vague under the law, the liquidator will do
>> > nothing
>> > unless someone gets a judges decision as per this Sons of Gwalia
>> > decision.
>>
>> > What you should do now is contact the company liquidator. Explain to
>> > them the situation. If there is still time they will supply you with a
>> > form which you will need to fill out. Say on the form that you cannot
>> > see how the companies announcements gave you an accurate state of
>> > affairs and it certainly included nothing about what happened. It is
>> > misleading.
>>
>> > Put in the greater of the amount of what you paid or the total value of
>> > the shares at the last relevant report. Then send it back to the
>> > liquidator. Then you have to wait to see if it gets to court.
>>
>> > Note the odds are you will get nothing.
>>
>> > --
>> > If you are upset with my comments then some way you must care what I
>> > think or with logic. Since it is unlikely to be me it must be logic.
>>
>> > Observations of Bernard - No 109
>
> Reality check unless you really have heaps and heaps of shares in the
> company you aint going to court. All you are doing by what I suggest
> is guaranteeing that if someone does go to court and the case is won
> that you might get something.
>