Having read through the report:
- None of the EOIs received were acceptable; but "some" remain under negotiation.
- KordaMentha recommend winding up Lepidico (but that is because they have to make that recommendation).
- The second meeting of Creditors is on 10th March 2025. KordaMentha will adjourn that meeting to avoid any Creditors putting forward an alternate motion to liquidate the Company. The adjournment:
- "... will allow time for the administrators to consider and finalise negotiations and documentation of the EOIs which will take into consideration the Companies continuing as a going concern and the best return to the Companies creditors."
- The adjournment period will be "up to 45 business days".
LepiRico posted the EOI list above.
It seems to me that Parties 1, 2 and 3 don't have any legs.
Parties 5 and 6 are effectively sales and so are an option
Party 4 is the one wanting to recapitalise LPD.
This must be another ASX listed Company.
Any suggestions?
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