It's a good article, with all the detail, but it also says this, on the possibility of the alternative consortium potentially making a bid of "at least 10c a unit": _____________________________
"Meanwhile, another consortium is interested in putting a proposal to Redcape, but has been hampered by exclusivity periods granted to the hedge funds to put a proposal, and then by further lock-out provisions in the agreement.
"The consortium is said to include the cashed-up Washington H Soul Pattison, the Laundy group and an Asian fund.
"It is said to also be planning a takeover of Redcape and a refinancing of its debt facilities and to have the support of the junior lenders, presumably because it proposes a higher payout.
"It is suggested this consortium has in mind an offer to the unitholders of at least 10c a unit." _____________________________
There's many "ifs" here. If, however, the alternative consortium (the junior loan consortium) is able to make a bid, and if the bid seems reasonable, or better than GS (the senior loan consortium), then we have 56.9% of votes belonging to TWH and HLG, the receivers, so it would be a done deal. Here's the current shareholder base for RPF if anyone is an AFR member:
