ADY 9.09% 1.2¢ admiralty resources nl.

fiduciary duties

  1. 8 Posts.
    Hi guys,
    This is my first post on HC on any thread but had been a LT holder for more than 2 years of this company run by this rotten directors as well as being a HC member for a couple of years as well. Was holding because of the Li and now that its gone and the way it was being taken from us shareholders made me break my silence. Just want to run something for comments by some holders in the know.
    1. If the reason for the sale of RLL is to have the cash to pay money owed to Hawkswood and others, isn't all the Directors of the company in breach of their fiduciary duties as directors for trading knowing that the company is insolvent. That they know long before this MOU had been done that they won't be able to repay the debts owed by the company and yet they are trading and re-assuring shareholders that everything is ok as proven by the annual report. I have stated long before the MOU for the simple reason that nobody and I mean nobody will let go of their hard earned $36M without doing a due diligence on the company which we all know doesn't get done in a week or so.
    2. And if assuming that they are buying the company without the customary due diligence, they must have inside information about the company which can only come from people within the company.
    Both are criminal acts and if PT is instrumental in these, shouldn't the authorities taking criminal actions and prohibiting these directors for being able to run a company again to the detriment of shareholders.
    Could someone comment if I am on the right track here.
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