Korda Mentha are receivers. They would have a team all on $60 hour and the $15m NPAT would have been chewed up. They would have had to file a tax return for FY19. This could continue for years. Korda Mentha unwinding assets and returning to cash.
Are they allowed to return cash to Oaktree? I thought their grounds for winding up Company was to return the loan, loaned to Blue Sky to remain liquid. Post early From Bronte Capital management say's all. The loan was a poisioned Chalice. This must be heard in court. There will be litigation at some time in the future.
BLA Price at posting:
18.5¢ Sentiment: None Disclosure: Held