an update from the liquidators, page-4

The agreed time horizon for the orderly sell-down of the assets is 2-3 years from the beginning of 2009. It is now August 2011. The time limit is about to be reached. Do we know how the asset sell-down is going on in BBIPL?

If they don't not finalize the asset sales within the time limit, do they breach the relevant contracts?


Just my thoughts


If you are interested, you can see the previous announcement about the "revised business plan":

http://www.hotcopper.com.au/asx_announcements.asp?id=25579


Is the time frame of 2-3 years set out in the agreement legally binding?