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News: Rupert Murdoch's Fox joins court challenge to CBS' Australian TV buyout, page-6

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378 Posts.

20/09/17

12:11

Post #: 27339150
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Originally posted by Duxbellorum ↑

The receiver/administrator have no duty to shareholders... current commentary doesn't indicate they have considered shareholders.

However CBS requires a s444GA transfer. There is clear case law on this section, the court looks at whether the s444GA transfer would result in unfair prejudice to the shareholders by comparing whether the shareholders would receive a better return if the proposed DOCA was rejected.

If Murdoch/Gordon lose current arguments, i wouldn't be surprised to see them line that up as their next argument by putting forth the proposition that the rejection of the DOCA proposal could provide a better return to shareholders.

I think this one still has a long way to run with one known outcome. Millions in fees for lawyers/administrator/receiver.

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There's still a small chance for shareholders based on the above.

TEN Price at posting: 16.0¢ Sentiment: None Disclosure: Not Held
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