more on pike river sale

I meant to post this last week as well.

After NZO receive their initial payment from the sale, they will receiver further payments down the track as their share in a $25m deferred payment scheme which will only be available to Secured Creditors (NZO). This scheme will also be inflationary (CPI) indexed. Page 02 is of particular interest.

http://www.pwc.co.nz/PWC.NZ/media/pdf-documents/receiverships/pike-river-coal/pike-river-coal-sixth-monthly-report-july-2012.pdf

It appears that NZO is the only Secured Creditor left and will receive their return (to approx $25m +) on the above basis.

Good news.