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Allco sale hinges on waiver
19 August 2009
Receiver Ferrier Hodgson has asked the lenders to grant a waiver ensuring Bravia/HNA's acquisition is not jeopardised by a past Allco default
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Allco
Ferrier Hodgson
Bravia
HNA
It has come to light that Bravia/HNA has been seeking a waiver to ensure that it will not be replaced as manager in the event of a past Allco default.The waiver is being requested because should Allco, which is in receivership, default on a transaction the lenders have the power to replace Bravia/HNA as lease manager. Without the waiver, Bravia and HNA could find themselves in the situation of paying to...
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