Unfortunately, no restructuring expert......
But the chance of that was minimal, because as I said before, the observers would have had to be sent on vacation. Obviously that is not what SNH wants....
Of course the SdK knew this too. The sentence in the Newsletter SdK, that 'it was legal to request a restructuring expert' is correct. I think there was a different strategy behind it, unfortunately the SdK does not provide any information about the underlying reason why an Herstructureringsdeskundige' was requested (so late) in the procedure. The judge's rejection will be announced in a few days, so we will know more about the reasons to reject the proposal.
Anyway:
The most important result of the Court Discussion is that we can now find ALL documents!!
450 pages of information, I have read everything. Part of this information was only available to the court on May 30 and even May 31, so to late for the Judge to read.
Very interesting: Now we finally know who the Hedgies are! And also the arguments FOR and AGAINST the proposal are now known. The G7 has finally taken a seat in the showroom. If you like to know what's going on in these negotiations, you can't stop reading.......
I am very surprised that many posters here talk about whether, or not, an email from the SdK was fake, including 'the 9 cent proposal'. Of course it is not fake!
Everyone can inform themselves about what the SdK has proposed and what not, it's all in the documents that are available to everyone since the 1st of June. The '9- cent -proposal' can also be read very clearly in its context here. Apparently it is too much trouble for many to translate and read those documents ...... That annoys me every now and then..sorry.
A tool for those who don't have much time:The most interesting parts in the documents for us you can find in appendix 20 A to E. Dirt had posted this too.
www.steinhoffinternational.com/downloads/...%2520-%252029.pdf
Here you will find the entire discussion between the SdK/AMS and SNH. I was very surprised to learn that the SdK apparently presented 3 options to Louis. I didn't know about this, but Dirty, Deol, Martin S, Truffelpicker and most importantly Wulf Bley, come on: let's hear from you , now that ALL the pieces are on the table. Time is ticking!
You can also read the Farb Riley Report (Summery) and the criticism of SNH and their advisors on that report. If you are really interested in what is being negotiated in the WHOA procedure, you can read it all in the appendix. I am not an economist, but it seems to me that the difference in valuation is simply due to a different valuation for the sale of the assets in the future.
Invitation to Dirty: How do you view the Faber Rily Report? I am very curious about your thoughts analyses for the valuation method. Please let us know what your analysis is. Next steps?
Invitation Wulf Bley: What do you think of the legal documents that have now been filed? What do you think needs to be done now to be strong on a legal level at 15 JUNE?
Martin S? Your thoughts about the legal cases? Ongoing lawsuits?
Now comes the decisive phase: June 15!
On June 15, the judge has the last word. There are huge differences in the valuation of the assets, almost a 3.3 billion euro difference, partly due to different valuation methods, in particular the valuation of the assets in the future. So the question is, who will be right, it will be interesting how the judge' judges' this........
I can't read from the Newsletter of the SdK what the next step will be. In my opinion, it would be very important if the SdK itself comes up with a proposal on June 15, in addition to the accompanying legal and financial documents that are already there. LdP continues to ask for this as well.....
This must be a proposal, in which shareholders are involved in the future structure. It must be a realistic proposal, well substantiated. Because that whole valuation discussion is very hard to win I think, but again, Dirty and others knows this better. The proposal could be drafted with input from our experts. Invitation to all others are welcome! Next steps, ideas?
Happy weekend!