The Administrator's Report does not contain the details - or the commitment - of the Bondholders to inject the $125m to $175m, the amount of the reduction in the debt and the new maturity of the debt. The Administrator's Report only contains a commitment of the Receivers (with the support of the Bondholders) for the Bondholders to provide $2.5m to distribute to the unsecured creditors.
Has anyone obtained the commitment for the recapitalisation and debt reduction?
I want to understand the robustness of the recapitalisation.
Will the Bondholders run the business for a few years (with growers paying their management fees) and then liquidate the NewCo so they can take the grower's trees after they have increased in value?
QIN Price at posting:
29.5¢ Sentiment: Hold Disclosure: Held
