Previous Article | Next Article
Back to News | Back to Markets
DJ MFS Director Warns Of Billion Dollar Writedowns - Report16/04/2008 08:06AM AEST
MELBOURNE (Dow Jones)--It could be up to three months before shareholders in embattled tourism and leisure group Octaviar Ltd. (OCV.AU), formerly MFS, know whether the group will survive, The Australian Financial Review reported Wednesday.
Director and major shareholder Chris Scott told the newspaper it would be July before advisory practice 333 Capital could determine whether the company had the capacity to pay the hundreds of millions of dollars still owed to its biggest creditors, and which parts of the Gold Coast-based business were salvageable.
"By the end of July it's either liquidation and the basket of history, or we have a future," Scott told the newspaper.
Shares in the company are in an indefinite trading halt as it conducts a review of its financing and operating structures after its market capitalization more than halved in January amid worries about its financial position.
Newspaper Web site: http://www.afr.com
-By Melbourne bureau; 61-2-8235-2950; [email protected]
- Forums
- ASX - By Stock
- mfs octavia dont sound good for holders
MFS
mfs limited
Previous Article | Next Article Back to News | Back to Markets...
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add MFS (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online