Seeking Clarification - just a thought, page-34

First 34 Last

Share
Profile

Follow
mattyedw

7,322 Posts.

957

13/01/18

09:03

Post #: 30275363
Share

Originally posted by goldpants ↑

Howdy,

I've come back to MBN to try and resolve its status for my tax purposes. I'm unsure whether there is an ongoing question around its status or possible resurrection but it may be so based on a couple of quick posts I read. From what I can gather (and apologies if this is known or posted previously, couldn't find it if so) it appears MBN is 'done' and can be realised as a capital loss.

There is a link on the Ferrier site to this letter: https://www.ferrierhodgson.com/au/-...la-nickel-limited-shareholder-declaration.pdf

IMHO and on my understanding... the line that says "I confirm that under section 104-145 of the Income Tax Assessment Act 1997, I as Liquidator of the Company have reasonable grounds to believe that there is no likelihood that subordinated creditors, including shareholders, will receive any distribution from the assets available in the Liquidation. "

Coincides with the ASIC's Insolvency doc: http://asic.gov.au/regulatory-resou...eholders/insolvency-a-guide-for-shareholders/

Where the latter reads: "If a liquidator makes a written declaration that they have reasonable grounds to believe there is no likelihood that shareholders will receive any further distribution in the winding up, shareholders can realise a capital loss."

I'll confirm with my tax agent when I lodge, but looks pretty clear to me.

As always IMHO, DYOR yada yada!

Expand

Ferrier Hodgson are clearly in on this with the creditors.....

It's a great way of Legally putting the company on hold....

Imagine how much of the pie would of been bought up on market by the big boys?

What price would MBN be right now if it re listed?????????

If they sell this it has to be sold for $500m plus because it would be worth more than that on market......

My prediction...relist and start production June and relist price after day 1

28c

MBN Price at posting: 8.3¢ Sentiment: Hold Disclosure: Held
11 Upvote

0 Great analysis

Reply

Top Stories

WTC

A sex scandal is unlikely to hurt Australia's tech crown jewel – just look at trades

KAU

Kaiser Reef sets up $8M capital raising to boost expansion at A1 gold mine

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Superannuation Essentials: Building Wealth for Your Retirement

BTH

Bigtincan bounces 9% after $409M merger proposal sets stage for Nasdaq listing