NZF Group (NZF and NZF010)

[minimoke]

Thanks for posting that minimoke. Does that mean capital note holders will get nothing?

given liabilities exceed assets and remaining cash is probably going to be used to fund directors lifestyle for a bit longer before the liquidators step in I reckon the chance of getting anything back is slim. Back in September they had about $2.6m in cash against $18m owed to notes. No matter how we do the math it looks bleak for note holders and shareholders can expect zero.

[QOH]

given liabilities exceed assets and remaining cash is probably going to be used to fund directors lifestyle for a bit longer before the liquidators step in I reckon the chance of getting anything back is slim. Back in September they had about $2.6m in cash against $18m owed to notes. No matter how we do the math it looks bleak for note holders and shareholders can expect zero.

Thanks minimoke, so in the end it didn't matter if we chose shares or extended the notes, still a big zero.