SML - Synlait Milk Ltd

[whatsup]

Most unusual turnaround on the bonds - all bids and no offers currently.

If that the case bets on that SML will pull through ?

[billkiapi]

@balance Pretty sure it was litigation funded and was a creditor of Manziel action?

[Balance]

@balance Pretty sure it was litigation funded and was a creditor of Manziel action?

The liquidator of Mainzeal took the case against the directors and won. It was 100% not litigation funded.

https://norlinglaw.co.nz/reckless-di...ay-36-million/

Litigation funded cases in NZ are few and far in between.

Feltex was one and the case funded by litigants lost. Unfairly imo but that’s how the cookie crumbled. 3 QCs and an army of lawyers represented the defendants - that’s how much the insurance companies and defenders threw at the case.

The class action against A2M is pending the outcome of a similar class action in Australia.

I don’t know of any others.

[Balance]

If that the case bets on that SML will pull through ?

Any yield over 25% implies junk bond status imo and high likelihood of default.

SML’s sp however suggests otherwise.

[Balance]

I have enjoyed the Sharetrader Forum, I am not a big investor and other than kiwi saver I have $5 k spread across 5 shares, so I don’t want to take up anyone’s time on here, I just thought Sharetrader was a pretty open thing,
I can clearly see that some posters on here are seriously financially astute and financial professionals in their careers, I have benefited from reading their thoughts and posts, so I say thank you to them for taking the time to post,

Balance can I ask you, what do you think that one thing is that will determine SML fate? (And my 1k) lol

There are certainly some professionals and experienced investors contributing on this site - posters have to watch out for who they are and what are their motivations!

Most contribute to share their knowledge and experience. And we should be thankful for that.

A few do so to take advantage of the newbies so be careful you do not become a sheep to the slaughter!

[billkiapi]

The liquidator of Mainzeal took the case against the directors and won. It was 100% not litigation funded.

https://norlinglaw.co.nz/reckless-di...ay-36-million/

Litigation funded cases in NZ are few and far in between.

Feltex was one and the case funded by litigants lost. Unfairly imo but that’s how the cookie crumbled. 3 QCs and an army of lawyers represented the defendants - that’s how much the insurance companies and defenders threw at the case.

The class action against A2M is pending the outcome of a similar class action in Australia.

I don’t know of any others.

manziel funded by LPF: “In late 2014, the Mainzeal liquidators, on behalf of the creditors, approached LPF for funding to assist in taking legal action against the directors.”

https://www.lpfgroup.co.nz/post/main...-s-perspective

[billkiapi]

Are there some investors still not familiar with what happened here?

https://www.linkedin.com/posts/natio...16119296-G6B2/

https://app.companiesoffice.govt.nz/...panies/5751329

https://app.companiesoffice.govt.nz/.../shareholdings

yes, I come back to that untidy situation- something very fishy went on there- and I remember something in the NBR in last few weeks about the case, but I can’t find it. Surely Peno didn’t try to stick it to A2M…. If he did, we are all wearing the result of that

[Balance]

manziel funded by LPF: “In late 2014, the Mainzeal liquidators, on behalf of the creditors, approached LPF for funding to assist in taking legal action against the directors.”

https://www.lpfgroup.co.nz/post/main...-s-perspective

Thank you, billkiapi!

I stand absolutely corrected and have learnt something new.

[Balance]

yes, I come back to that untidy situation- something very fishy went on there- and I remember something in the NBR in last few weeks about the case, but I can’t find it. Surely Peno didn’t try to stick it to A2M…. If he did, we are all wearing the result of that

You mean this article?

https://www.nbr.co.nz/investment/pen...ays-a2-letter/

I don’t have a subscription so cannot elaborate any further.

[kiora]

This one
https://www.linkedin.com/posts/natio...16119296-G6B2/

Ouch very messy