guys, from my understanding the receivers are not obliged to strike a deal with ahug holders at all.
they can sell all leasing, pocket all the proceeds because allco's debt ranks first, and then ahug holders would then have to sue afg in the courts, proving that this letter of comfort amounted to a legally binding obligation, and even if you were successful with that, you would still have to get in line behind the banks to get any money back.
i also note it's the australian banks that are spearheading the babcock rescue. makes you wonder why they were not willing to support afg a bit longer. after all, allco wasn't even asking for any additional funding unlike bnb.
guys, from my understanding the receivers are not obliged to...
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