Grant62. I have a vague memory of the Bell Group Liquidation. If my memory serves me correctly the banks were able to convince the court to liquidate the company even though they did not have a registered charge. I understood that all the bank lending was on -ve pledge basis and accordingly they did not have the requisite power to call for a liquidation. Am I correct in my recollection? I assume that with SGH where the banks have registered charges in place these would have fallen away with the sale of the debt and the new lenders would have immediately filed a new charge to secure their position as foremost amongst all lenders and creditors. Also if AG and co. had taken Geoff Hill along with them to the UK they would not be in the trouble they are in today imo. A very smart man.
SGH Price at posting:
11.5¢ Sentiment: None Disclosure: Not Held
