According to the article: Many valuations of Alinta (believed to include internal ones) suspect the value of the company's assets are worth less than the debt facility - which is concerning considering the company balance sheet indicates that the company's net value is just under 1bn.
The other cause for concern is that the numerous investment banks sucking out more advisory fees in much the same way as the former parent (manager) did which is what helped get the company in this situation in the first place!
Some of these so-called advisors (i.e. UBS) have been sucking fee's out of this company since it was floated in 2006. And, I must say that their track record has not been particularly impressive.
It's certainly not in the interest of shareholders if all of the extra cash flow generated by the business has to be paid to a bunch of greedy bankers who to date have put forward no solutions!!!
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