re: Ann: Transfer of Redbank Debt by BOSI to ...
Hi Timber1956
Your weird feeling has merit, wether true or not. I have always thought that there is a high risk that shareholder, while getting a return will not get "all the blue sky" a recovery and debt restructure could bring to Redbank.
From my understanding , from speaking to Redbank, the reason the banks cannot assume control is the Power Purchase Agreement will be destroyed if they do so. Fresh lenders , assuming they purhased the debt for a discount perhaps will be more likely to accept this postion and cut a deal with Redbank. The deal that is cut is the key. Where I can see potential trouble for small shareholders is if controlling shareholders also become lenders or atleast have a share in the lending group. That is my "weird feeling". Still just wonder about the opposition to the board seet
AEJ Price at posting:
$7.50 Sentiment: Hold Disclosure: Held
