My following comment isn't clearly researched, and while we are all powerless to do anything with our holdings, I'll just wait for the conclusion to be announced.
I'm guessing that tying up the TV2/Jayplus cash comes down to the deal made with Cancun. I don't recall the details of their investment and equity holding. Given that Cancun holds some kind of "asset" in it's TV2 shareholding, the Cancun liquidation would mean that this creditor is looking at all possibilities to try to get some of their cash back. When Cancun are looking dicey, and then Silvey as a director starts splashing cash around as an unsecured loan to TV2, things start looking sketchy.
The comments from those at the court hearing are interesting. I'm not reassured by the case being sent to mediation as that suggests to me that we're stuck in this scenario for a long drawn out debate about the whole thing. It's very disappointing not to have had any clarifying information from the company about their activities in the meantime. Is TV2 solvent? Where are the operating funds coming from? What activities are actually ocurring to progress the Jayplus project? We'll see more (or at least something!) in the upcoming full year statement, though I'm not expecting that until 09:55 Monday morning.
TV2 Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
