REX AIRLINES Trading Halt
Joined: Mar 2024
Posts: 79
Likes: 47
From: Far far away
Joined: Jan 2024
Posts: 19
Likes: 26
From: Aus
LKH should be disqualified from managing corporations with his extremely dodgy and illegal practices as has been reported time and time again. For him to just side step to another similar-to-Rex, is disastrous for the aviation community and, screams of the failure of ASIC if nothing criminal comes out of the Rex mess for any of the directors. Recording a meeting is the least of LKH sly activities and was only a problem as maybe something incriminating to JS. Furthermore, it appears EY has been chosen to fit the Rex script of coverups. EY are putting vast amounts of lipstick on $h!t.
Joined: Feb 2006
Posts: 296
Likes: 55
From: Perth
So the administation is dragging on past five weeks and the Feds have stepped in to provide a guarantee on tickets. What odds are there on the Feds having to guarantee a whole lot more to keep the ops going after Christmas? I have no inside intel, but the administrators will be racking up the bills and they get paid first, so perhaps there is some moral hazard where, ultimately, the Commonwealth will have to bail them out, one way or another?
Joined: Dec 2001
Aviation Qualifications: ATPL
Posts: 4,419
Likes: 853
From: Brisvegas
What odds are there on the Feds having to guarantee a whole lot more to keep the ops going after Christmas?
Joined: Feb 2002
Posts: 4,399
Likes: 135
From: NSW
Insider trading applies to the stock market. Changing jobs or employment conditions is a commercial matter only. Many people in companies abandon ship or take leave etc etc if they think the show is headed for the rocks or a big change. I once was involved in taking over a WA company where the senior execs x 5 all fronted the new owners with revised employment contract signed off a week or two before settlement.
Morally wrong in my opinion but no laws broken but we knew who we were dealing with after that and dealt with it accordingly
Morally wrong in my opinion but no laws broken but we knew who we were dealing with after that and dealt with it accordingly
Joined: Jan 2006
Posts: 2,535
Likes: 224
From: Sydney Australia
Thanks for that TBM. I pretty much assumed as such.
And yes, hopefully anyone who were afforded special treatment while their colleagues lost everything, may find their own special form of Karma.
And yes, hopefully anyone who were afforded special treatment while their colleagues lost everything, may find their own special form of Karma.
Joined: May 2016
Aviation Qualifications: PPL
Posts: 1,537
Likes: 695
From: Sunshine Coast
On the topic of insider trading, on 19 July, EY met with Rex directors and the wider senior management regarding "contingency planning". That day, coincidentally or otherwise, saw the second largest single day sell-off of Rex stock for twelve months.
Joined: May 2016
Aviation Qualifications: PPL
Posts: 1,537
Likes: 695
From: Sunshine Coast
Section 1043A of the Corporations Act 2001 is not restricted to Directors, it applies to any person who has access to information that a reasonable person would expect to have a material effect on the price or value of financial products, where that information is not generally available.
Joined: Jan 2006
Posts: 2,535
Likes: 224
From: Sydney Australia
Section 1043A of the Corporations Act 2001 is not restricted to Directors, it applies to any person who has access to information that a reasonable person would expect to have a material effect on the price or value of financial products, where that information is not generally available.
irrespective of who you are, or who you think you are, nobody should be above the law.
Last edited by KRUSTY 34; 11th September 2024 at 02:05.
Joined: Feb 2002
Posts: 4,399
Likes: 135
From: NSW
Joined: Dec 2005
Posts: 54
Likes: 7
From: Australia
Managers(board or Pilots) all
came from the same mould.
Corrupt bullies with no integrity or respect towards anyone in the aviation industry.
Hope you get what you sow, jail time for the best achieved in there.
I’m sorry for the staff that lost their job or going through admin. Word of advice the virus is still there in the company and it will spread again once admin process is finished.
Get out and move on you will only smile.
came from the same mould.
Corrupt bullies with no integrity or respect towards anyone in the aviation industry.
Hope you get what you sow, jail time for the best achieved in there.
I’m sorry for the staff that lost their job or going through admin. Word of advice the virus is still there in the company and it will spread again once admin process is finished.
Get out and move on you will only smile.
Joined: Dec 2023
Posts: 1,150
Likes: 889
From: Oz
God help NJE.
Joined: Sep 2017
Aviation Qualifications: ATPL
Posts: 198
Likes: 93
From: Living out of a suitcase
Joined: Nov 2010
Posts: 258
Likes: 40
From: Perth