Brief: Ioupay Ltd Says Formal Judgment Handed By Federal Court

Ovanti

06/04/2023 02:30

April 6 (Reuters) - Ioupay Ltd  IOU.AX :
    * FORMAL JUDGMENT HANDED BY FEDERAL COURT
    * JUDGEMENT IN RELATION TO FEDERAL COURT PROCEEDINGS
COMMENCED
AGAINST COMPANY BY CLEE CAPITAL PTY LTD
    * JUDGMENT SAYS DIRECTORS OF CO APPEAR TO BE TAKING
APPROPRIATE
STEPS TO INVESTIGATE TRANSACTIONS
    * JUDGMENT SAYS APPARENT PERPETRATOR OF FRAUD HAS BEEN
REMOVED
FROM CO
    * JUDGEMENT SAYS REPRESENTATIONS WERE MADE TO CO BY THEN CFO
THAT
A$4 MILLION WAS HELD IN LAWFIRM, BUT NOW APPEARS THOSE
REPRESENTATIONS WERE WRONG

Source text for Eikon:  ID:nASX4Kb3dk 
Further company coverage:  IOU.AX