That is understandable as Bronte have recently purchased Beppas in the belief that an otherwise bankrupt company will ultimately survive. (there words, not mine) Any thing that provides liquidity is obviously of some benefit to them from an opportunistic investment fund pov.
BBIG PIG/BAM obviously know that there are provisions within the company law that provides an appointed promisor to deal with the situation without having the complexity of registering a Managed Investment Scheme.
For Bronte's opportunistic sake I hope they can garner the larger numbers to their cause to press resolution of this current stand off.
Bronte have been busy seeing off their concerns over these assets sales and good on them.
One down three to go..
1. The sale process of the AET&D assets is still in the hands of BBI & Brookfield. 2. The BBI EPS holders will not control the assets – that is, BBI & Brookfield will simply sell the assets – there is no capacity to recapitalise them for example. 3. There appears to be no one with fiduciary duties to ensure that the sale process is undertaken for the benefit of the BBI EPS holders – one suspects that the assets could simply be sold as quickly as possible by BBI/Brookfield. 4. The fees proposed to be paid to Brookfield are excessive.
ifandwhen
Q?.. what is the source of the Managed Investment scheme detail ?
BBI Price at posting:
3.5¢ Sentiment: Hold Disclosure: Held
