asx knocks back octaviar accounts, page-2

I reckon its OCV's plan of attack to not relist for now until they sort these creditors.......if it can be done.

The potential breaking of a convenant to Challenger for 100million could be a stinger for OCV as its a big hit.

Anyone got any opinions on whether they think OCV can get extensions / sort these creditors without selling down that last golden asset Stella?

If not...I am sure CVC would take that 35% at a fire sale price of 10 million.

Poor old OCV.....nice new feel and name and website....only to find the problems were just to big anyway.

alpha....some of this debt was unknown to me...maybe I should have known but yesterday was a good solid breakdown of OCV's position.

I dont think there is any positive spin you can put on.

OCV is quite cornered now and at the mercy of these creditors.

I dont know why the creditors would say "hey pay us later" when MFS has completely stuffed everything up and they could just force OCV to sell the 35% of Stella for say $600 million and pay all the creditors back.

Then....what do we have left?

Nothing in my opinion.

Poor Chris Scott....an estimated 42 million shares....tried so hard to get in before the old MFS board dumped Stella....he just got in there too late.

Its a dirty dirty situation.

Why did they block him. He told them not to sell...he could arrange any amount of short term funding but they blocked all the way until they fire saled Stella and Chris Scott proved he had the numbers to wipe the whole board out in one go.

It was just too late.

So why did the MFS board block Scott?

What has it achieved? Are they happy now? OCV is screwed.

Seriously...I just do not understand what the old board including Peacock were trying to achieve.

Its obvious Scott is onto the money...he finally got a very thorough, yet gastly, set of financials out to the market with a sad but very honest business update.

Now...we are stand duped, cornered, nothing we can do....we just find out in a couple months if OCV will be a company on the ASX or another corporate collapse that the media have a field day over for quite some time.

One thing though......I have a huge amount of faith in Chris Scott, I just think he walked into a mine field and is not likely to be able to traverse it as MFS previously planted mines everywhere.

Its a write-off to me. I would like to see justice but I see King with Elysian fields valued at how much? 20 million plus? I see Adams in Dubbai doing solid business and doing very well.

And I see Peacock moving to a new job in may, smiling a smug smile and patting himself on the back for his time not well spent at MFS....then probably an autobiography released to make some more money based on his lifes achievements.

Those left losing are the other 99.9% of people who trusted MFS and their diatribe, their marketing, their hype.

The poor PIF holders and others who went the stable option.....my god...I feel about 100 times more for them than myself. I deserve a kick in the butt for going near them....however, these others really have copped it.

I mentally have given up on OCV's future as its occupied my mental headspace for 4 months too long and the end result always seems to be dissapointment.

However....I'll keep an eye out for anything I can find to share.

Chris Scott is quite a force, but I would only wish him luck and not hope for anything above ZERO return on anything OCV related.