In the absense of conclusive evidence to the contrary, it seems to me that the problem lies in a gross overvaluation of PDL's and therefore non compliance with AASB9. The resultant overstatement of profits and net assets has caused a breach of loan covenants, requiring CLH to scramble to find alternate funding sources. Should this prove to be true, we can expect a class action suit against management and directors.
Ann: Trading Halt, page-46
-
- There are more pages in this discussion • 16 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)