BCS brisconnections unit trusts

all very interesting... watso does not hold, so at the end of...

  1. 31,434 Posts.
    lightbulb Created with Sketch. 4
    all very interesting... watso does not hold, so at the end of the day, it does not bother him, but it is still an interesting scenario.

    ok - what if bolton does not win - he is still a big holder of units, and as such is liable for the call. of course, it might not be nice for him to be bankrupt - but he might have saved a few other people a bit of a bother - and then the underwriting agreement will be tested. it is obviously impossible for bolton to come up with the dollars to meet the call - so it will be up to the underwriters

    maybe bolton was smart enough, to have assets such as the family house, in his wife's name - and thus out of reach of any bankruptcy proceedings

    macquarie sold as soon as they could - and that should speak volumes

    holders of bcsca, are legally obligated to pay the call - that is the way it is. ignorance of the law is not an excuse -that is the way that it is

    lucky that watso is not involved, but one would assume that if he had a few thousand units, then he would simply have to shrug his shoulders and pay up - but of course, if there was a big obligation, then watso would be looking for an escape - and if there was some wrong doing (eg fudgy numbers) in preparing the fiancial forecasts, then that should be an escape route

    there is no reason for the likes of macquarie, and the other mob, to get out of their obligations

    all watso can do is to offer meaningless moral support to holders of this toxic debt

    from memory, MAP, had similar securities - where there was an extra $1 to be paid - that could have been several years ago.. watso could be wrong .. - but then again, he is correct, as he had a look

    "500,000,000 stapled securities comprising one partly paid unit in
    MAT1, stapled on a one for one basis to a partly paid
    unit in MAT2 and a partly paid share in the MAHBL.
    "

    that was when the stock was listed, and it seems that the units were "partly paid"

    best of luck to holders

    sentiment "sell", if you can find a mug to take on the debt
 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.