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3.45%

3.0¢ morella corporation limited

Ann: PLS: Conditional Agreement to Acq. Altura Lithium Operations, page-491

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GARETH78

8,400 Posts.

2987

03/12/20

18:43

Post #: 49328542
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Originally posted by sabine: ↑

I don’t think $6M is enough to pay all the creditors Medicalscience.
The contractor, NRW is owed $9M alone and then there are all the others - trucking company, shipping etc etc.
Plus there is the legal claim on $5M by Civmec from when the plant was being built.

As I understand it the only creditors who will get a look in ( if the DOCA option is agreed to) are the ones contracted to ALO ....
(Some may not be.)

And there may be a shell company left at the end which retains rights to any gold (?) and has a coal interest in Indonesia ?
But I am not sure.

cheers

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Accounts payable as at 31st Dec (the last available) was $34.5m

Highly unlikely to have improved much considering their COH at the last 2 quarterlies.

There could be a helluva lot of unsecured creditors.

There will be nothing left for share holders.

In fact being a limited company in many ways SH are lucky as they are not liable for these debts.

AJM Price at posting: 7.0¢ Sentiment: None Disclosure: Held
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