At the end of July we should have the following:
1: Korda Mentha report, letting us know about solvency and hopefully every rock should be over turned showing OCV's true's position money wise, debt etc.
2: Creditors position with respect to OCV continuing as a company
On July 21st, and providing Challenger does not agree with OCV on terms before the court case, Challenger and OCV start court to determine if OCV broke covenants relating to the $100 million debt to them.
3: Relisting
Hopefully we will have more of an idea after the Korda Report and Creditors position as to whether OCV will ever relist again. Fingers crossed for that.
A few others things we are still waiting for information is on the Public Trustee court case against Octaviar rescheduled for September.
Also, the company financials that KPMG would not sign of as "OCV being solvent" needs to be addressed for ASIC to allow relisting.
The last couple I can think of is debt to ASX and NAB. Hopefully the Packer consortium Arctic Capital completes the takeover of LLA and assumes the 40 million debts LLA has to the NAB.
Good luck OCV board in the next 2 weeks. We know you are giving it your best and appreciate it in a big way. It would be almost impossible to walk into a mine field with no protection and expect to not be grazed as a minimum, so well done for trying to get through the mess.
OCV
octaviar limited
