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Voluntary or Not?, page-10

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plough

33,642 Posts.

1780

05/07/24

11:27

Post #: 74622681
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Originally posted by Empty Nose ↑

all reports suggest Macquarie initiated.

reportedly they did this soon after but not immediately after MacMahon issued a letter of some sort

Macquarie initiated administrators so as to lock in their position as secured creditors BEFORE any significant cash was paid to MacMahons.

during normal operations, payments can be made to creditors without necessarily considering secured vs unsecured status.
though there are "trading while insolvent" rules etc.

but during administration, secured comes FIRST.

so it is GREED that was the first priority.

this is similar to 99.9999 of people.
they work and live for money.
they dedicate no effort to learning truth or morality.
thus, they experience suffering and need to be managed by an authority in their dreary immoral lives.

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"so it is GREED that was the first priority."

Not greed , just utilising their contract to the best financial outcome , if any one is greedy it is the shareholders who hold the the riskier equity in a company but with more potential return , compared with holding a note which will have some sort of security behind it .

CAI Price at posting: 11.5¢ Sentiment: Hold Disclosure: Not Held
2 Upvote

0 Great analysis

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