Thanks Rambo - will look over them. Any key ones that I should look out for?
The key to me seems to be at what entities have borrowings taken place and what the cross-guarantee, cross-default language looks like. If Canadian assets were part of that, then that somewhat mitigates the impact of that poor decision on stockholders. Hopefully more info forthcoming.
Having said that, I think we still need to be wary of the indirect impact of the UK bankruptcy on the remaining business. Doesn't seem crazy to me that Australian customers and suppliers reduce business with Paperlinx on the headline risks, given I presume they only have access to consolidated financials and probably aren't delving into the ring-fencing/entity-level financing.
And finally totally agree on PPX vs PXUPA. I think you'd be mad to hold PPX. Risk/reward of PXUPA is far superior.
SRS Price at posting:
1.7¢ Sentiment: None Disclosure: Not Held
