Well isnt this an interesting choice that some people...

Well isnt this an interesting choice that some people have!!!

Whether or not the noteholders would be prepared to accept would really I believe depend on how many notes they hold. I guarantee that there would be 200 people who would have already signed up to accept it (those with under 50 notes). God what a choice they have.....payment in full or take the risk and get less!

I wonder whether CS or any others associated with OCV are holders of the notes.

The real question will be will the other creditors accept the proposed offer? I would think it is a given that the PIF would accept. I just cannot see WC and JH rejecting it. Afterall CS and JH do have a history together.

In relation to the others I would not have a clue. However, I do have a feeling that some would prefer to see OCV collapse, thereby being able to pick up the assets even cheaper.

I thought there was some interesting things to come from the announcement:

* No dividends from Stella (makes you wonder - could CVC be attempting to essentially kill off OCV be withholding cash flow - thereby enabling them to pick up the remaining 35% @ a bargain basement price).

* Sale of Circle on Cavill and Q1 will only repay secured creditors

* No new businesses identified

* CVC can sue OCV, also Stella reportedly is not meeting its projections.


In my opinion regardless of whether or not the proposed offers are accepted, I would think the end result will be much the same.

There is no future going forward. After all the asset sales are complete.....what will be left as a business. I think it will bascially be nothing.



No dividends from stella