thanks mate. Good detective work. Korda Mentha appears to have...

thanks mate. Good detective work. Korda Mentha appears to have negotiated a deal that doesn't cover the unsecured creditors let alone the SHs. Bear in mind approx $500m in equity and debt was "sunk in SO4" and that the business appears to be a going concern at the proposed sale to Se.vn I am not surprised the Board isn't co-operative with KPMG. The secrecy around this transaction surely warrants the full force of ASIC to determine who did what to whom and especially the SHs. Unlike some of the commentary on HC over the past 12 months my view is this is a lawyers picnic no matter how hard KPMG and Korda Mentha attempt to maintain a veil of secrecy around the sale process. It may be smarter for the SHs to work with the Board (given they appear to have been given the hospital pass from KPMG) to secure a fairer outcome for all concerned SHs. I think SHs need to stick together and start discussing with potential litigation funders the merits of the case for SHs. There is something like $350m of equity being written off in this proposed deal. Too big to simply walk away from without asking a few parties what they think?