hastie in receivership, page-9

Great points you make SB & Rosen (class action).

But one of SB's paragraph rings true -

"its the straw that broke the camels back twice... the bank funding secured - only to have have the middle east bond called in... the trading halt called - for what reason ... the recap in play - only to have revised figures destroy all that..."

everytime there was a glimmer of hope, be it the SFA being approved via the banks (even after the trigger was set off from Trading Halt re Review Event)or the recap proposal from the 2 int'l organisations, with ANZ who have the largest exposure happy to approve it... there was always some skeleton in the closet ready to jump out, be it Middle East or $20 million irregularity.

The banks never really gave it their best shot I believe, how many opportunities and long did they give the likes of Centro ??? so the banks are taking a 70% haircut by winding Hastie up, as opposed to 30% via a recap ???

Not that it matters now, but someone mentioned earlier that Hastie's sp once hit a high of $40, is that right ???