The judge did not use the evidence that the financial information was adequate or not in deciding whether to lift the orders.
Perhaps because he knew the bondholders were playing games, he very wisely based his ruling on another point of reasoning, because IFCA has since shown it does indeed have the funds (otherwise why would it say it was still interested in Chemeq - for a joke?) thus avoiding being accused of making a serious error of judgment.
He used the argument that the bondholders had $60m at risk and IFCA did not have any cash at risk.
So what are you so sore about?
- Forums
- ASX - By Stock
- CMQ
- who frustrated the ifca deal
who frustrated the ifca deal, page-6
-
- There are more pages in this discussion • 7 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add CMQ (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, CEO
Anthony Noble
CEO
SPONSORED BY The Market Online