18 Further, the Administrators have indicated that they believe, based on their discussions with the Receivers, that there are interested parties who have expressed a genuine interest in the recapitalisation and/or sale process being undertaken by the Receivers, and this may result in interested persons putting forward proposals for the companies to execute a DOCA in due course.
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33 Further, Mr Caddy has given evidence that the Administrators are of the opinion that it would be in the best interests of the company's creditors for the convening period to be extended by the period of six months which is sought. Further, the six‑month extension is necessary to facilitate the Receivers' intended recapitalisation and/or sale process. Additionally, unless an extension to the convening period is granted, there is a risk that the lessors of the leased assets will take steps to terminate the leases, thereby jeopardising the viability of the recapitalisation and/or sale process.
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It might appear a candle is still flickering here........
MYL Price at posting:
70.0¢ Sentiment: Buy Disclosure: Held
