The directors of Evoworld have stated that they money they are using to pay out the 50% purchase is borrowed from some of their own directors and associated members various family/holding/trust companies as described in their previous lodged documents. They are not all lending the money, so this means not all of them face the same risk. One assumes that when you enter into an arrangement with like minded persons and things don't go as planned, someone may well end up holding the baby. Could be a nasty fall out for the husbands and wives of Cottesloe.
Also, I wonder if anyone knows if any of the lending entities are super funds, or are they family trusts and companies?
NEN Price at posting:
3.2¢ Sentiment: None Disclosure: Held
