Ann: Update on liquidation of Termite Resources NL, page-43

Hi nigelnz, i agree we are in big big trouble.
This will just drag on but there are 3 scenarios.
1) The writ goes ahead and IXR are done for.
2)We agree to a settlement and we are still done for..CR at very best...administration at worst as the liquidators are demanding $75million, and, after months of forensic examination of the accounts the liquidators have come up with this figure, then they will not settle for a few million i'd say.
3)This gets thrown out, but this seems the most unlikely as a liquidator would not consider releasing a demand letter unless "they" believe they have the legal right to do so as i understand the workings of liquidators.
However its the drag on and on through the courts before any of this would occur.

Just staggering to think.