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8.3¢ mirabela nickel limited

A guarantor is a third party that is obliged to repay the debt...

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yifuj

1,125 Posts.

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20/06/18

15:55

Post #: 33831687
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Originally posted by AlCp ↑

Yes, very interesting....the guarantors are the receivers aren't they? Who works for the major secure creditors who are collectively majority share holders who have been funding the C&M cost for 3 years.

In Perpetual Nominees Limited v McGoldrick (No. 3) [2017] VSC 78, the Supreme Court of Victoria has held that a liquidator owes a common law duty of care to guarantors when exercising a power of sale to realise assets of the company in liquidation. The judgment will be of great interest to insolvency practitioners as it is the first time in Australia that a Court has determined that such a duty of care exists after a full trial.

https://www.cbp.com.au/insights/insights/2017/march/liquidators-duty-of-care-to-guarantors

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A guarantor is a third party that is obliged to repay the debt in the event of default. There have never been any third party guarantors in MBN. I have also never seen a receiver/liquidator guarantee anything. Their business model is to indemnify themselves and take on as little risk as possible.

MBN Price at posting: 8.3¢ Sentiment: Sell Disclosure: Held
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