The other interesting point I would like to make is that the proxies were submitted by clients who were not at the meeting and hence were not privy to the fact that an adjournment was possible... i.e there was no “box to circle” which indicated to “adjourn” the meeting. If clients had this option things may have been different.
Secondly we clearly saw that the litigation funders are in this for the $$$$ hence voting for liquidation. They can now continue with their proceedings. But what happens when the results of the mediation are put forward. (FH indicated today that discussions are progressing well.) Do they not accept it on behalf of their clients because this would mean they receive no fees??? And to have representatives of the litigation funders on the committee is a joke in itself due to their conflict of interest... We know they do not want to accept any offer !!!!!
ANZ Price at posting:
$18.20 Sentiment: None Disclosure: Not Held
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