Hi Nasty....Yes ..reading this it would appear recievership lifting not exactly as cut and dried as chm announced last week.....Also as i understand this....chm trying to pay off ILP with repayment of around $6 mill in accrued costs and then a further $9 mill as termination payment, total around $15 mill....presumably a clause in origional agreement....BUT!..IPL wanting to stay on tiil finale...rejecting this, by way of saying chm not in position to offer security over itself to borrow funds in order to pay IPL out..Because it has a charge over chm, so the only way chm could borrow funds is with authorisation of IPL (which it obviously would'nt give)or by lifting the charge ie putting up $20 million..Something chm cant do and I seriously doubt anyone else would either.....Interesting times...will this simply be another CHECK on the chm chess board of life or Checkmate!!..
CHM Price at posting:
9.2¢ Sentiment: Sell Disclosure: Not Held
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