WIN Corporation Ditches Attempt To Put Ten Takeover Bids To A Vote

WIN Corporation Ditches Attempt To Put Ten Takeover Bids To A Vote

WIN Corporation has given up on its attempt to try and have creditors of Network Ten vote on the joint bid by Bruce Gordon and Lachlan Murdoch against the one by CBS.

Representing WIN in court yesterday, Dr Andrew Bell SC tried to amend the company’s legal action against Ten administrator Korda Mentha so that the broadcaster’s creditors could vote on the two proposed takeover bids when they next meet on Tuesday 12 September, according to The Australian Financial Review.

However, WIN has abandoned its attempt to amend its case, as it was not willing to pay the price of having the current hearing adjourned.

WIN is now continuing its case against Korda Mentha, claiming that both of its reports to Ten creditors were missing vital information needed for them to make a proper decision on the sale of the broadcaster to CBS – namely the execution risk that the CBS deal carries.

 




Please login with linkedin to comment

Bruce Gordon CBS Lachlan Murdoch Ten WIN Corporation

Latest News

Canva Unveils Enterprise Era With Powerful New Workplace Products Debuted At Canva Create
  • Media

Canva Unveils Enterprise Era With Powerful New Workplace Products Debuted At Canva Create

At its first international Canva Create event in Los Angeles today, Canva, the world’s only all-in-one visual communication platform, accelerated its focus on the enterprise, debuting the platform’s biggest overhaul in a decade alongside a range of new workplace products and services poised to redefine the way millions of people work. Lead image: Canva Founders […]

Cashrewards: A Decade Strong!
  • Partner Content

Cashrewards: A Decade Strong!

Cashrewards' CEO muses on the company's 10 year anniversary. Still refusing to answer questions about a possible party.

Partner Content

by B&T Magazine

B&T Magazine
Network 10 Axes Gladiators
  • Media

Network 10 Axes Gladiators

Alas, 10's Gladiators has gone as quickly as it came. Should make for a very wild garage sale, however.