In theory the proposal has significant merit for all parties, so hats off to them for their creativity. But they could have explored it as a potential proposal lawfully before this stage of development.
I am also sure the litigators have the creditors interests at hearts as well. Which ever way you want to cut and dice this debarcle, there is no simple solution and their will be some pain financially.
If ASIC litigate we will be in nursing home before we see any compensation, about 15 years. If the litigators go for the throat, a settlement is the most likely outcome, so X settlement offer-30% plus. That is about as commercial a summary as it gets. Eveyone wants court justice and 100c plus damages, well the sooner we accept that those two outcomes will not occur, the easy to accept the reality of what will most likely occur as an outcome.
ANZ Price at posting:
$12.86 Sentiment: None Disclosure: Held
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