Guvera ignored JP Morgan advice to delay IPO, court hears, as investigation resumes into streaming firm’s collapse

Failed music streaming firm Guvera ploughed ahead with an IPO despite being told not to by financial experts JP Morgan, Sydney’s Federal Court has heard.

Resuming the public examination into Guvera’s collapse, adjourned from December, former Guvera CEO Darren Herft admitted it did not heed a recommendation in early 2016 to delay the public offering.

When it tried to list in June of that year, the IPO was blocked by the Australian Securities Exchange and Guvera unravelled.