Hi jatkins72, InDebted just announced that they've raised...

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Wilma85

7,967 Posts.

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26/07/22

18:01

Post #: 62737733
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Originally posted by jatkins72: ↑

Greetings @educate,

CLH has in excess of $20 million in creditors, and if we're being honest with ourselves, the company is not worth the $20 million that it owes.

All that remains to be seen now is how many cents in dollar creditors will receive. There is no value remaining for us shareholders.

The was an article published the other day by The Australian that Credit Corp, Pioneer Credit, InDebted and Complete Credit Solutions were the last remaining parties interested in purchasing CLH. Credit Corp certainly has the ability to purchase CLH but I'm unsure why they would, they have already purchased the PDLs that were of interest to them. Pioneer would likely have to fund the acquisition through debt and I don't think that would make a lot of sense for a loss-making business which has a very different model to Pioneer's. It's plausible but unlikely in my view. It's a little harder to get a read on InDebted and CCS' interest as neither of them are listed and so we don't know their financially capability in terms of making the acquisition, but one thought here is it could present an opportunity for a reverse listing if either was inclined to do so. I oft wonder with these articles if they are facilitated by the leaking of rumours from creditors or administrators that are trying to maximise a return.

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Hi jatkins72, InDebted just announced that they've raised $22.5m. It's possible that some of the funds raised could be used for an acquisition of CLH. Watch this space...

CLH Price at posting: 6.8¢ Sentiment: None Disclosure: Not Held
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