Deutsche Bank's counsel has told Justice Petyer Dutnyey in the...

Deutsche Bank's counsel has told Justice Petyer Dutnyey in the Queensland Supreme Court that if a resolution to wind up BrisConnections was passed, the underwriting agreement would become unworkable, which would be perhaps the best outcome rather than the worst. "

frith in the australian

getting rid of the underwriting agreement is the key to this

apparently if the instalments are not paid then the underwriters (mac and deutche) have six months in which to pursue the defaulters for the money

if the company is wound up then that makes the underwriting agreement unworkable

deutche and mac are happy and so are the stockholders

mac should use its 8% to vote with Nicholas Bolt