So if the $203m tax bill stands and MIN can offset some of this by claiming the $250m loss, then tax to be paid will still be more than the $100m Alita has in the bank. If I read it correctly, MIN will need to make up any shortfall and ensure at least another $25m to be held by Alita to pay out any yet unknown creditors and the balance if any is then distributed to shareholders.
Let's hope the liquidators get the opportunity to investigate the company's affairs thoroughly even if there is no benefit to shareholders arising from it. It may at least cause some people to feel uncomfortable until the final report is tabled.
In the end we will still get close to zero whatevers happens it seems.
A40 Price at posting:
8.2¢ Sentiment: None Disclosure: Held
