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So timeline from December 2020 was :GXY filed an injunction in...

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NotMBACurioser

56 Posts.

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12/01/21

09:38

Post #: 50102314
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Originally posted by Haplo: ↑

Correct. That was briefly mentioned in the Rowathorn documents. SMS was also involved in court action before the introduction of the second DOCA.

That now makes three groups attempting to stop CHE from gaining the assets. Rowsthorn has a history of this type of action before on other distressed companies and thus may have a more experienced and established legal team. Even though they have won the injunction - the judge has said that she doesn't believe his case is very strong.

Fingers crossed that these and other groups use this delay to introduce more legal action in an effort to allow other bids for the assets.

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So timeline from December 2020 was :

GXY filed an injunction in December to delay the second creditor's meetings so that it can provide a new DOCA, which was denied by the Supreme Court.

After that, GXY sold less than 10% of its A40 holdings to Mark Rowsthorn's entity ( the entity name was changed also late in December, after GXY's request was denied ), then Mark filed its own injunction which was granted.

A40 Price at posting: 8.2¢ Sentiment: None Disclosure: Not Held
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