Hi Lord Spesh, Ferrier Hodgson as liquidators gave / outsourced...

Hi Lord Spesh,
Ferrier Hodgson as liquidators gave / outsourced (?) to Korda Mentha as receivers and managers the job of selling MBN’s assets. FH are saying here that it’s ultimately the choice of KM as to what assets are sold to who and at what price.
My guess only is that this is the indemnity that KM would have wanted before taking on the job.
Also makes it hands off as far as FH are concerned after they have concluded / ruled MBN’s only future is to be sold off with most if not all unsecured creditors, incl shareholders (last in line) to receive nil.
KM rejected an early day’s bid of around $30M - as this would have been insufficient to satisfy the two main secured creditors (who are owed $250M and seem to be the ones at least putting the floor of $250M as the sales price).
Under this arrangement, there’s no incentive for KM to hang on for a price that pays anything to any creditor beyond the secured ones that they are essentially now acting for.
Both FH and KM have nothing to gain beyond a few extra fees the longer this drags on - reckoning is both would be glad to see the deal “done and dusted” and they can move onto the next company wrap up.
Still, please each write to FH and KM detailing losses incurred, ways deceived when listed, confusion as to why current sale process isn’t ceased with either MBN relisting or a much better sale price sought for all creditors / shareholders given both Real and Nickel trend, price and outlook.
Act now before the deal is done.
Maintain the rage.
Regards, LP