Application Concerning Ausdoc

The Panel advises that it has today received an application from the Australian Securities and Investments Commission (ASIC) for a declaration of unacceptable circumstances in relation to the affairs of Ausdoc Group Limited (Ausdoc).

The application relates to a break fee and other lock-up provisions that Ausdoc announced on 22 May 2002, it had entered into with an unnamed potential bidder for Ausdoc.

ASIC's concerns relate to: