I declare I have a law degree but this is a pretty complex issue, dealing with the specifics of the contract and involvency law so I don't think it will help...hehe
What we do know is that the administrator is working to keep its preferred clients, the banks, happy....and as a result is doing all they can to get the banks title of this prime agricultural land....at the expense of the 'growers'
As TIM is in administration, the contracts don't exist in the same form........it's just all about satisfying the creditors......if honouring the contracts is in the creditors interests, they may do so.....otherwise, its just all the creditors for themselves......noting that even SHV has just written of an entire $3.2 million debt which it was owed from TIM.....SHV of course had a contract for that too be payed back.....alas, its unlikely the administrator will honour that......
All this keeping in the mind, the administrator is the first person in the creditors queue...hehe
SHV Price at posting:
$2.96 Sentiment: None Disclosure: Not Held
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