Non-holder, non creditor who is interested in the sector and how all processes of successful and unsuccessful companies work to ensure I learn from all these events in ym future investing endeavours.
Non lawyer or financial person but am curious to what people think one the following point when the details below are taken into consideration.
If I were a creditor I'd be raising this point for clarification at the first creditors meeting to see if this then can be a means to see if the company was trading insolvent or had knowledge that it could possibly do so ahead of the capital raising.
FTi held discusssions with WMC prior to the capital raise to look at the status of the business. What is facinating to me is the interaction on the 4/5 where the current status of the business is discussed and what a voluntary administration of WMC could look like. Now is this not a material disclosure the directors of WMC should have been telling potential investors in their capital raise that commenced on the 24th May. ie some form of discussion of adminstartion had been discussed.
