ocv creditor update ann just out fri arvo, page-2

I stand corrected on the LLA share situation.

OCV still holds them.

Very nice progress going on for OCV.

The OCV team must be exhausted. What a mine field to run into....bombs going off everywhere yet they are getting through the mess.

So the key dates have changed.

The creditor offer is now extended to Aug 29th.

The noteholders...I see 20 out of 350 hold 85% of the value of that $348 million owed by OCV.

I hope we get them onside.

So that is one key date.

I suppose now the most important thing for OCV is the PTQ Court session on Sept 9-11th I think it is.

That was the court case that got re-scheduled for the winding up order in the brisbane supreme court.

Now..if they are succesful in that...there is no OCV...its immediate liquidation.

Hopefully OCV enters the court with all the other creditors onside and the PTQ gets some pressure on them from the agreeing creditors to allow OCV to enter back as a company and build themselves up again.

We are certainly in good hands.

I hope all creditors and the PTQ can see the new OCV team really do have their heads switched on and can make a go of things.

So its a 4-5 week till then but we will know by Sept 11th whether OCV is a company or hits the liquidators.