hawkswood

The legal case between ADY and the Hawkswood Receiver is scheduled for resolution by the judge at 2.30pm at the Supreme Court of Victoria.

My guess is that ADY will settle by agreeing to pay the Receiver the outstanding loan plus any interest. Payment most likely will be a cash amount followed by installments as funds are received from iron ore shipments during 2008.

It would be unlikely that the Receiver would force ADY into immediate repayment bearing in mind ADY's low cash position and its inability at this stage to secure loans from Chinese steel companies and banks.

My opinion only.
We should get an anouncement this afternoon.