Original article by Darren Davidson
The Australian – Page: 24 : 18-Sep-17
KordaMentha has declined to comment on a revised bid for the Ten Network by Lachlan Murdoch and Bruce Gordon, which would result in unsecured creditors receiving a maximum payment of $A55m. The CBS deal would give these creditors no more than $A32m in total. The administrator is believed to be waiting for a Supreme Court of New South Wales judgment before deciding whether to put the new offer to Ten’s creditors. Murdoch and Gordon have alleged that KordaMentha had not provided creditors with sufficient information about the value of their joint bid.
TEN NETWORK HOLDINGS LIMITED – ASX TEN, KORDA MENTHA AND COLLEAGUES PTY LTD, CBS CORPORATION, SUPREME COURT OF NEW SOUTH WALES, ILLYRIA PTY LTD, BIRKETU PTY LTD, WIN CORPORATION PTY LTD, 21ST CENTURY FOX INCORPORATED