I would be astounded if GXY, as a shareholder, decided to write off all of their shareholding investment without any fight at all.If you had invested A$40m as a shareholder, would you not think yes its ok to allocate say 200k to legal fees to prevent total loss of A$40m. How this would effect the repayment of their separate 40m loan which they currently stand to receive as part of the current DOCA I,m not sure, but it seems very srange that a company such as GXY would meekly accept their $)m loan repayment and also accept another 40m total loss on their share investment in A40.
It will be interesting to see what develops over the next couple of weeks.Personally I,ve written off the relatively small investment I had in A40, although I,m still aggrieved that effectively I,ve worked in a very stressful job for 1.5 months to see this money written off by what appears to be a combination of incompetence and dodgy,greedy deals.
A40 Price at posting:
8.2¢ Sentiment: None Disclosure: Held
