Administrators Report, page-2

  1. 15 Posts.
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    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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