Just got of the phone from Robert McKenzie (Administrator). The creditors meeting was held yesterday and was adjorned for up to 45 days.
He indicated there are a lot of offers coming in in various forms, from relisting parts of the business to offers for particular assets. The extension is to allow these offers to be finalised and assessed. A recommendation will be prepared for the creditors after the assessment.
He suggested until the offers have been finalised and Assessment completed he could not coment on the likely direction for the business.
The next Creditors meeting may be sooner than the 45 days, but a direction should be determined at that meeting. An update will be posted at that time.
More Waiting.
STI Price at posting:
0.2¢ Sentiment: None Disclosure: Held
