From today's SMH:
"Gindalbie is one of dozens of small and medium-sized companies whose share registers have been destabilised by the forced sale of stock.
The fallout from the collapse continues to ensnare the troubled stockbroker Tricom, which insisted yesterday that its controversial deal to buy back a $70 million portfolio of securities from Opes went through on Tuesday evening.
If it has failed to recover the shares, it will rank as an unsecured creditor in Opes with a net exposure of $30 million, which is the difference between the $70 million market value of the share portfolio and the $40 million worth of loans on the stock."
With regard to the last paragraph, what would this mean for GBG if it becomes an unsecured creditor to sum of $30 mil? Comments?
From today's SMH:"Gindalbie is one of dozens of small and...
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