The decision makers for AYN are the Receivers and Managers. They...

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jantimot

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21/11/14

22:15

Post #: 14333591
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Originally posted by samuel ↑

Sid I spoke to mvaughan & he said He could not talk about the company (because they are the ones trying to get the money owed), and that i should talk to the managers and Administrators.

we get told this from the Administrators

"The Receivers and Managers were appointed by the secured creditor of the Companies pursuant to its security interest and have assumed control of the Companies’ assets, including the Texas Silver Mine. Accordingly, the Receivers and Managers are responsible for, and will determine issues relating to, the Company’s ongoing trading and the manner in which the Company’s assets are dealt with. We will assist the Receivers and Manager in this regard where appropriate in an effort to maximise the outcome for all stakeholders of the Companies."

And the Administrators tell us share holders

"Updates on the progress of the Administration The Administrators will provide updates throughout the Administration by way of announcements to the ASX and we ask that shareholders refrain from contacting the Administrators’ office at this time"

So the only one that I can see that we should be able to talk to is Managers,
and he is telling you to talk to the Receiver?.

At the moment, We have to find out who!! ARE the decision makers for AYN

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The decision makers for AYN are the Receivers and Managers. They are acting on behalf of the secured creditors, to realise as much for the assets that are secured, and now effectively owned by the secured creditors. They have no obligation to answer unsecured creditors or shareholder queries. They will politely note your interest, but refer you to the administrators, who have no control at all over what is happening. All the R&M are interested in is how much people will pay for the assets.

Does anyone know how much Bergen are owed? If they are the appointor.

AYN Price at posting: 0.1¢ Sentiment: Sell Disclosure: Not Held
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The decision makers for AYN are the Receivers and Managers. They...

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