Post by
RONNIE111 on Nov 28, 2019 10:28pm
'Legal Enforcement of Stock Exchange Rules'
Spiritflyer, I have been thinking more about the ,legal opinion, I think it would be called, that you posted a few posts ago, titled as in the subject of this post, by Paul Latimer 12-1-1995.
In that opinion it appears ,as you said, that shareholders may be able to go after the company, the company directors personally, and (and this is the biggy) the stock exchange (In Australia the ASX), if the listing rules aren't followed.
And the article talked about any 'aggrieved' persons being able to take that action.
"most significantly, the Supreme Court may order the observance of, enforcement of, or giving effect to, the business rules or listing rules of a stock exchange on the application of the commission or any person aggrieved by the failure to observe, enforce or give effect to those rules."
And then I started to think: who is more 'aggreived' than you and me, and all the other Core shareholders that Titan has been trying to ,uh, do bad things to. And the ASX not doing their regulatory duties has very much facilitated that for Titan. Doesn't matter that we are not Aussies, money knows no borders etc.
Like you , I am not a lawyer. I do enjoy watching legal dramas on TV, and at times like this I think it may have been fun to be a lawyer. And for sure we all hope that this will shortly be all a moot point, as Titan crashes and burns. And if the Aussie guys want to go after Titan, the ASX, or the Titan Principals (and the article defines the Principals very broadly) , for the long term and egregious breaking of all manner of listing rules, that will be up to them.
But I still find it interesting. I managed to come up with an email address for Mr. Paul Latimer, the author of the opinion, and will send him a letter , and hopefully he will want to chat. He wrote the 'opinion' in 1995, but still seems to be active. I have been hoping to make some sort of contact with someone in Australia , like him, for awhile, but to no avail. Maybe he would take some interest in Titan: Titan being such an extreme case of rule breaking. And his article was all about ways to enforce the rules.
Comment by
Spiritflyer on Nov 29, 2019 10:01am
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