todays the day, page-7

TFG another great post.

My theory is slightly different to yours. BMG and its liquidator have had many months to cough up the $25M and it looks 99.9% certain that they haven't met their deadline.

This now opens the door for any third party to grab BMG's 40% stake in Hawsons, and BMG have no say or control over which entity this may be. They can no longer drag the chain, and although the liquidator will serve in the best interest of BMG's shareholders, they too are completely helpless in this situation now. All control has been taken out of their hands.

When I spoke to Nick last week, he said something pretty much along the lines of, "we are awaiting the transition next week – it should be an easy transition but let’s wait." I'll stick my neck out here; to me that sounds like he had an instinct that BMG's liquidator was prepared to call it quits on Hawsons, and that CAP have a potential partner ready to go.

If this hypothetical 3rd party has the same 'no time to lose' mindset as CAP, then it would make sense that they step up to the plate tomorrow and get this show on the road - but we will have to wait and see.