LETS NOT FORGET THE LENDERS ARE A SYNDICATEONLY 75% BY DOLLARS...

LETS NOT FORGET THE LENDERS ARE A SYNDICATE

ONLY 75% BY DOLLARS HAD TO AGREE TO THE EXTENSION ON OUR DEBT for it to be extended(the rest got dragged along within the terms of the syndicate-probably why they sold out)

That means that whatever hedge fund or whatever needs over $750m of debts to be on their side to contest anything the company proposes.Then be prepared to pay for a court appearance and get atleast 75% to agree to that-IT JUST WON'T HAPPEN

Then there would of course be a little meeting in front of a judge under urgency and then ultimately any sale would proceed if it was profitable and in the normal course of business.

After all no matter what mortgage you have with the bank,if you sell an investment property at a profit to holding cost,your not insolvent and they get all the money,to pay down more than that propertys percentage debt,then for the lender to argue,you can't cause they want their cousin to buy it cheaper,or they just don't want you to,won't get them a win in court.Just make them look .....ks

Such is life in the commercial world too.

Also as a aside the last agm said the BBPT(our stapled securities Trustees) had no intention to call for repayment of any outstanding debt or seek interest before the 31st july 2010.

DYOR-or loose your own money.

Seek and Ye shall find all manner of things and wonder why others cannot find them for they are in the open visble to all who care to seek them.

DYOR

For those wondering why only small buyers for shares here's a real good reason and when you think what institutions(their investment trusts/managed funds etc it affects),then you have a good understanding why and why some small debt holders may sell down early,for a small loss,so they can be party to whatever happens once they have a good time seperation(so they can't be restricted or accused of insider trading)
main reason,lenders/hedge funds with alinta debt can't pick up shares on the market is ---QUITE SIMPLY AS HOLDERS OF DEBT----they would be privvy to information not readily available to the stock market and to all shareholders as a result of negotiations with the company(5yr plans-forecasts and other stuff of a highly sensitive commercial nature such as what each power station makes,contract details,offers even)So they become self excluding on the grounds of a related party and the risk of insider trading.Especially if the value of the share value were to multiply