Ten creditors ‘left wholly in dark’ over rival offer

Original article by Darren Davidson
The Australian – Page: 17 & 20 : 14-Sep-17

The Supreme Court of New South Wales has heard allegations that Ten Network administrator KordaMentha had not provided creditors with sufficient information about the value of a joint bid by Lachlan Murdoch and Bruce Gordon. Andrew Bell, QC told the court that Ten shareholders would receive more value from the joint bid than the offer from US-based CBS Corporation, which was endorsed by KordaMentha. He said that unlike the CBS offer, the Murdoch-Gordon bid would have treated all creditors equally.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, CBS CORPORATION, KORDA MENTHA AND COLLEAGUES PTY LTD, SUPREME COURT OF NEW SOUTH WALES, 21ST CENTURY FOX INCORPORATED, WIN CORPORATION PTY LTD, NEWS CORPORATION – ASX NWS

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