Independent Expert is another word for "Liquidator".CNP will end...

Independent Expert is another word for "Liquidator".

CNP will end up being a Members Voluntary Liquidation.

Before anyone gets paid, the Liquidator will take a slice of pie for himself and will be able to claim any expenses incurred in the winding up of the company. Dont underestimate the cost of this.

Pg 11 of CNP's App 4d report shows that trade creditors amounted to $400m as at 31 Dec 10. Trade creditors are junior to secured creditors and so will be fighting for their share of the $100m on offer also.

Employee entitlements will need to be paid out also.

There is also the contingent liability for the class action. Should the class action be successful, they'll be wanting a slice of the pie also.

I can tell you right now how much security holders will get but a few of you have your heads too far into the sand to realise this.

Good luck anyway.

This is my last post on the CNP thread.