Resource Generation Limited

Introduction

  1. The Panel, Stephanie Charles, David Friedlander and Nora Scheinkestel (sitting President), made a declaration of unacceptable circumstances in relation to the affairs of Resource Generation Limited. The application concerned, among other things, the failure to disclose an alleged association between 3 Resource Generation shareholders 2 of whom were members of a debt club seeking to provide new project financing to the company. One of the shareholders (Altius) had requisitioned a general meeting to change the composition of the Resource Generation board.