Bottomfeeder, you have misunderstood;I was referring to CMI...

Bottomfeeder, you have misunderstood;

I was referring to CMI taking defacto control of "a sale process" in consideration for not formally defaulting its own loan or that of NAB. (that would be disastrous)
i.e. force Hoffmeister to put it up for sale, maintain pressure for a result, rather than let it drift on at Hoffmeister's pace as it has since April. A forced / default sale price would wipe him out, so therefore best for him to try and salvage the maximum benefit for himself.

What is it worth or who would buy it ? Who knows.
A company doctor or someone else in the industry may see an opportunity or see a pig. One thing is for sure, no one is going to get paid if it is not up for sale.

You appear to have the rest of us in here at a disadvantage having access to the 2010 CMI Industrial Pty.Ltd. Annual Accounts. Perhaps you can post them for all of us to see or tell us where to find them ?