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18/05/17
13:18
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Originally posted by pauljbo470
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I don't know what they did with the Moly money or how much cash there actually was.
I don't think they can pay it to creditors (banks) as they are in the creditors queue with everyone else.
They have to wait and see how many cents in the dollar will be returned before they can pay anyone, and that cant be until they have sold everything and paid out any employees that have left and are awaiting payment of entitlements.
One interesting thing I heard is that there are assets that are not included in the current sale.
They are only selling assets that are required for ongoing operations.
I am assuming that this will mean there is stuff like land that is not part of the sale of Arrium Australia.
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12 properties have been separated from the sale, as luck would have it KordaMentha has a real estate arm that will look after the sales and fees of those assets.
http://www.kordamentha.com/Real-Estate