Rivkin Financial Services Ltd 02 - Panel Makes Declaration of Unacceptable Circumstances and Accepts Undertakings
The Panel announces that it has made a declaration of unacceptable circumstances in response to an application from Network Limited (Network) under section 657C of the Corporations Act in relation to the affairs of Rivkin Financial Services Limited (RFS). The Panel has accepted undertakings from RFS which address its concerns. The application relates to a 1 for 3 pro-rata renounceable rights issue proposed by RFS, to be fully underwritten by Westchester Financial Services Pty Limited (Westchester) and fully sub-underwritten by Central Exchange Limited (CXL).