Archive for October, 2010

Johnston appears in court. Again.

Saturday, October 23rd, 2010

The civil case against those who sold tens of millions of dollars worth of worthless Firepower shares continues in the Federal Court in Perth, with Tim Johnston making an appearance yesterday via video link. He originally refused to appear at all.

It is as if nobody can believe what happened and they want to hear all about it all over again.

No wonder when it has been clear all along that Firepower would not have been possible without the help and support of the previous Federal Government and your taxpayer-funded agencies.

Johnston misses court again

Saturday, October 16th, 2010

Firepower boss Tim Johnston has declined to appear at a civil trial in Perth where he and other parties are accused of raising funds from investors in breach of the Corporations Act, according to the WA Business News website.

The Australian Securities and Investments Commission alleges Johnston and companies associated with Firepower Holdings Group Ltd offered shares for sale without providing disclosure documents. In the Federal Court in Perth, ASIC lawyer Michael Pearce said Mr Johnston, now living in Queensland, had sent an email explaining he did not propose to turn up in court.

Mr Pearce told Justice John Gilmour he didn’t think anyone expected Mr Johnston to appear, “judging by his past conduct”, but an option was to subpoena him.