Like last year, auditor Hacketts is resisting signing off on the annual report, with senior partners believing that Allied Brands (ABQ) is, and has been, trading while insolvent. And like last year, Hacketts is being managed by the two chartered accountants running Allied Brands, Sean Corbin and chairman Lachlan McIntosh. Allied Brands annual statement last year turned out to be a pack of lies, with the company bleeding cash and still going thru the motions of paying a dividend like any good pyramid scheme.
And we all know the accountant's motto: "Figures don't lie, but liars can figure".
Hacketts needs to ask itself what cost they will bear by signing off on more untruthful statements by this close-to-collapse entity. Shareholders will be looking for a deep insured pocket to sue when the truth of Hacketts so-called audits is revealed in an ASIC investigation.
Management continue to desperately try to flog off parts of the company including the discredited and broken jewel, Baskin Robbins.
Talks are said to be underway with dairy producer Parmalat, (Paul's Milk) among others. All of the potential purchasers have indicated that the management that some say is incompetent or criminal, not be part of the sale. It's said however the previous sacked CEO Shane Radbone (who, along with wife Victoria, have not repaid the sweetheart loan extended to them) signed longterm contracts with some of these same corrupt managers.
SHANE AND VICTORIA, WHERE IS ALL THE MISSING SHAREHOLDER MONEY YOU OWE? WHERE'S THE MONEY, MATE???
No comments:
Post a Comment