Pokerface,Spot on mate.I want to see a complete report from...

Pokerface,

Spot on mate.

I want to see a complete report from Ferriers...surely they have got that after racking up $8mill in fees.

I also want to see a legal opinion as to the prefs and how long that will take in court...surely they have got that as well.

I am not specialist in admins/liquidations but this would have to be a no brainer for Ferriers...aside from the odd Maserati and holding company which were identified in the first few weeks this liquidation is straight forward. All of the assets are recorded in an electronic system and were converted by ANZ to cash. They don't to find buyers for obscure assets and they are not having to track down anything....most of the assets are there.

At the last Creditors meeting we approved payment so far to Ferriers of $1,577,014 + $125,000 which included legals. Up to this point most of the leg work had been completed and they were mainly progressing with mediation.

So 4 months later that figure has jumped to $8million plus much more later down the track.

This stinks...just hang in there people.

I'm sure when we get details of the offer we will be rushed to make a decision with threats of missing out altogether if you don't agree. This is classic railroading....don't be sucked in....if it takes ANZ 12 months to make a decision then they were obviusly in no hurry.