Sorry Waldo... that post contains no legal or logical reasoning...

Sorry Waldo... that post contains no legal or logical reasoning whatsoever. You should learn more about corporate insolvency laws.

1. Who is this "offeror" you speak of??
2. Comet has no secured creditors that I am aware of.
3. The "market value" of shares is exactly what they will be sold for by a Deed Administrator. Placing a large volume of shares for sale on market may drive the SP down.... BUT an Administrator will NEVER sell shares for less than what the ASX SP is - not without jumping through many hoops first... this would be illegal, negligent and professional suicide.

A warehouse full of old used machinery or a pile of unwanted retail goods...... these are the kind of assets that are often sold for "peanuts", usually by way of an unreserved public auction- because they are unwanted and not easily "marketable".

However, shares in IG6 DO NOT FALL INTO THAT CATEGORY ... the shares held by CRL will NOT be unwanted by the market and will NOT be sold for peanuts.

This is pretty obvious and logical information I am giving you..... not much point in having a dispute about it.

Disclosure... I have 15 years experience in Australian corporate insolvency law and accounting.