Hi Omega, are these guys charging the company and cant even get there recommendation proof read?
"Administrators’ opinionCompany be wound up."
We recommend that creditors resolve to execute the DOCA proposal presented by
Somers.
Pursuant to Section 439A(4)(b) of the Act, we are required to provide creditors with a statement
setting out our opinion on whether it is in creditors’ interests for the:
Administration to end;
Company to be wound up; and
Company to execute a DOCA.
Each of these options is considered below. In forming our opinion, it is necessary to consider
an estimate of the dividend creditors might expect and the likely costs under each option.
11.1 Administration to end
As stated above, the option of the administration ending is not viable. The only remaining
options available to creditors are to accept a DOCA proposal or to wind up the Company.
11.2 Winding up of the Company
From the calculations set out in section 10 of this report, both DOCA proposals will provide a
full return to creditors. Accordingly, we do consider it in the best interests of creditors that the
I assume they have left out the word "not" from that last sentence, given the unknowns that they list if it is wound up and the first part of there recommendation. It doesn't even make sense in the context of the sentence preceding it.
Hope they don't charge us for correcting their mistake, if that's what it is, or do we need to be wound up to execute
So does anybody have any goss on who Somers are?
Thanks
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- Ann: Administrators' Update-TON.AX
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triton minerals ltd
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Last
0.7¢ |
Change
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Mkt cap ! $10.97M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
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7 | 2224436 | 0.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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0.7¢ | 466000 | 2 |
View Market Depth
No. | Vol. | Price($) |
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7 | 2224436 | 0.005 |
6 | 2089571 | 0.004 |
7 | 4270000 | 0.003 |
5 | 4800000 | 0.002 |
4 | 6100000 | 0.001 |
Price($) | Vol. | No. |
---|---|---|
0.007 | 466000 | 2 |
0.008 | 1813319 | 4 |
0.009 | 3169693 | 7 |
0.010 | 1500000 | 1 |
0.017 | 250000 | 1 |
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