Australia's largest stock trading and investment forum Australia's #1 stock forum

AZZ

Click for more information

0.00%

$7.50 antares energy limited

Convertible Notes Info, page-23

First 23 Last

Share
Profile

Follow
maersk

526 Posts.

69

05/04/18

08:52

Post #: 32231107
Share

th

Originally posted by marcus A ↑

As per the company update of the 23rd March, with the termination of the DOCA and the release of the company from administration the Creditors Trust has been established. My understanding of the DOCA is that once the Pager Partners syndicate pay $500,000 to the Creditors Trust that will extinguish all the creditors claims against the company.

The Creditors Trust administrators (FTI again) will probably use these funds to pay themselves and pursue a claim against the previous directors liability insurance policy. So if the trust administrators do manage to succeed with a claim there may be a payoff to noteholders (was it a $20m policy, so maybe up to 50%?) down the track, otherwise the administrators and lawyers will gobble up the $500k quick smart and noteholders will get zero return.

Hopefully noteholders will receive an update from FTI soon on their plans for the funds in the Creditors Trust and when we might get to recognise our losses for tax purposes.

Expand

thnx Marcus.
we're all hoping to crystalise these losses by 30 june, so i'm praying that they perform.

AZZ Price at posting: $7.50 Sentiment: None Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Trump is President Again: What Does This Mean for Crypto?

NHF

Burgeoning NZ insurance claims drive 1H25 operating loss for nib

3DA

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

BMO

Bastion sees echoes of its Gyttorp Cu and REE mineralisation at new Swedish tenements

First 23 Last

Add AZZ (ASX) to my watchlist

SPONSORED BY