After this debacle, I have one golden rule now for future investment, only invest in companies with NO DEBT and plenty of funds.
mypravda is spot on, creditors will get between 70c and 80c in dollar, shareholders 0.
Winners= 1) KM and fine suit brigade, maybe $300M? for their work. nice!..err for them.
2) Government, they can claim a major victory in saving Whyalla and Aussie jobs.
Why the S.A. Labor govt are as I type popping corks, Jay Weatherill and his side kick Tom K are probably drunk about now and being chauffeured to their next Arrium victory party while we small holders are crouched under a bridge sipping on cheap plonk and stale white bread rolls. Good night
PS on news tonight, new owners of Arrium plan to mega spend and expand the business many folds..great news for the Jay Weatherill celebrity team.
Ann: Agreement Signed to Save Arrium Australia and Whyalla, page-27
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