Hi,
I still have a problem with the litigation and the demerger.
The court approval to allow the scheme to proceed will require that the scheme is fair to all , shareholders , debt holders and other creditors .
This includes ''reasonably forseen creditors'' ?
If AMP loses , and we can argue that one either way , but it is a possibility, then a liability arises.
Who pays?
The potential liability is large , probably too much for each of the separate bits , and even if not , reduces the security of those potential ,reasonably forseen creditors , as well as the debtors in the entity responsible.
How they apportion that potential liability is hard , not least because it would force them to put a figure on it [ which they have quite rightly avoided doing up till now ].
Not sure the courts will take , ''I think we will win '' as an answer.
So I can see the litigants lawyers throwing a spanner into the scheme demerger , court approval process.
If that sort of intervention were to happen , and succeed in delaying things , then forget the own goal , more shooting off both feet and picking off the genitals on the way through.
Which, by the way ,would leave my agenda as road kill , so if there is a flaw in my argument , i will be glad to hear it.
cheers
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