In a statement, Korda Mentha said Arrium's operational performance has improved, "but that does not solve the fundamental problem of over $2 billion of pre-appointed debts that need to be serviced/repaid.
"These debts are unable to be serviced or repaid from operating cash flows."
Arrium's financials are kept under wraps as Korda Mentha applied to ASIC to defer reporting until October 2018.
http://www.abc.net.au/news/2017-05-18/arrium-shareholder-revolt-demands-relisting/8538666
In a statement, Korda Mentha said Arrium's operational...
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