NZ RegCo put trading in QEX shares into suspension on February 18 on the basis of QEX's breaches of its corporate governance requirements under the Listing Rules, as stated to the market that day.
On the same day, former Federated Farmers chief executive Conor English resigned from the board, along with Danny Chan and Martin MacDonald, citing differences with Xue, who is the company's majority shareholder and the sole remaining director.
MacDonald had been appointed independent director just days before his resignation.
On the same day, New Y Trading received notice from its first ranking security holder, Westpac, that it had breached its interest cover obligation to maintain an interest cover ratio of no less than 2.50 times.
On February 10 QEX advised that the company has appointed RSM Hayes Audit as its statutory auditor following the resignation of Deloitte as its external auditor.
In its latest result - for the six months to September last year - QEX turned in a $5.86m loss.
In November, the company said it was investigating missing inventory, presumed stolen, from a Shanghai bonded warehouse, worth $4.3m.
QEX listed on the exchange's then small-cap NXT in 2018.
Before its suspension, the stock traded at 28.5c, having fallen by 60 per cent over the previous 12 months.
