Hello Duped, Only those with knowledge and motivation are going to follow this...imo. The media dont cover every detail from all perspectives. Deloittes have produced hundreds of pages but the nitty gritty isnt wriiten on a Company memo and no-one is left to investigate..imo. It seems that the latest court proceedings PTQ and Challenger want some-one other than Deloittes to be liquidators.. Raptcivic..I think PIF is a creditor??..had a creditors meeting..reported in todays GC Bulletin..some wanted to replace Deloittes??..
Is this what normally goes on? and why ask for a different firm for liquidation?
I dont understand much of the reports but without court proceedings who could make allegations? The hurried sale of Stella Group could be explained by a recent change of debt obligation to Fortress as you point out but why sell the added 15%?? Why change it from a 50/50 deal? Its almost a deliberate attempt to offload Stella ......at a reduced price with every chance to get the rest for even less..Selling half to repay debt is a plausible action BUT to sell control and the added 15% without so much as an ASX ann to tell shareholders of the change or why is wierd.imo.
What part/business type of OCV/MFS did Fortress secure the debt over?
OCV Price at posting:
99.0¢ Sentiment: None Disclosure: Held
