Quickflix control in the balance
Amid threats of defamation and vicious barbs from both sides, the fate of Perth-based video streaming and DVD rental service Quickflix will be known tomorrow after an extraordinary meeting in Sydney.
According to US-based would-be Quickflix director Matthew Joynes, the result remains up in the air.
Speaking from his home in Los Angeles, Mr Joynes confirmed "just about everyone" on his side received a letter from Perth law firm Bennett + Co on behalf of Quickflix last week.
Summing up the fierce nature of the battle, Mr Joynes raised questions over the decision by Quickflix to fund lawyers to defend directors.
He said companies could not be defamed and he was looking forward to the end of the process as he represented a bunch of distressed shareholders fearful about the potential of "having their investment wiped out".
"I don't think this company can survive without an incredible rethink," he said.
Quickflix founder and executive chairman Stephen Langsford defended the use of Bennett + Co and the company's position. He said Quickflix had been subject to an unorthodox campaign of PR spin and blogging, with a host of wilfully misleading information peddled.
"I think the chap over in the US has had his 15 minutes of fame, and the shareholders get to vote on Thursday," Mr Langsford said.
"These folks have wasted money, created distraction and their intent is clear: to talk down the company and try to take control, it's all pretty transparent."
