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

Original article by Darren Davidson
The Australian – Page: 19 & 26 : 13-Sep-17

The legality of KordaMentha’s decision to endorse CBS Corporation’s acquisition of Ten Network rather than the offer of Lachlan Murdoch and Bruce Gordon has been questioned in court. Lawyers acting for Gordon argued that it is up to Ten’s creditors and their advisers to assess the merits of competing bids and chose the best one, rather than the administrator. Meanwhile, KordaMentha has released a supplementary report to creditors in response to claims by Gordon that its first report lacked sufficient detail.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, KORDA MENTHA AND COLLEAGUES PTY LTD, CBS CORPORATION, BIRKETU PTY LTD, ILLYRIA PTY LTD, WIN CORPORATION PTY LTD, 21ST CENTURY FOX INCORPORATED, NEWS CORPORATION – ASX NWS, NICK XENOPHON TEAM, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, ONE NATION PARTY, SUPREME COURT OF NEW SOUTH WALES

Original article by Darren Davidson
The Australian – Page: 17 & 20 : 8-Sep-17

The Supreme Court of New South Wales has granted an application by WIN Corporation owner Bruce Gordon to have the second meeting of Ten Network creditors delayed by a week. This will allow the court to hear claims by Gordon, Lachlan Murdoch and 21st Century Fox that a creditors’ report by administrator KordaMentha lacked sufficient detail. This hearing is scheduled for 12 September, while the second meeting of creditors is now slated for 19 September. In other developments, the Australian Share­holders’ Association has ruled out participating in a class action regarding Ten’s collapse.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, WIN CORPORATION PTY LTD, 21ST CENTURY FOX INCORPORATED, SUPREME COURT OF NEW SOUTH WALES, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, CBS CORPORATION, NICK XENOPHON TEAM, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, BAKER AND McKENZIE, ATANASKOVIC HARTNELL CORPORATE SERVICES PTY LTD, ALLEN AND OVERY, DENTONS, CORRS CHAMBERS WESTGARTH, KPMG AUSTRALIA PTY LTD