GREY:ROAOF - Post by User
Post by
OPFundon Mar 25, 2009 12:16pm
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Post# 15869429
Outcomes
OutcomesSeems some pople dont understand:
If this deal is finalized then ONSL is gone (ONSL is the only operational asset Oilexco Inc. holds). If the proceeds from ONSL do not cover debt then Oilexco is bankrupt and we all have a useless piece of paper and s/p ->0
If Oilexco rejects ONSL sale then they have 28 days or so to provide other solutions:
Other Solutions:
-Renegotiate RBS short-term and long-term obligations
-Find a partner (joint venture)
- Find another syndicates who will finance and then buy ONSL for $1 through Bidco.
- Convince E&Y to extend administration and negotiate further.
OP