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DomaCom Ltd. ( (AU:AOH) ) just unveiled an update.
Assetora Limited, listed on the ASX, operates through a corporate structure that includes at least one subsidiary and has issued notes to investors, reflecting a capital markets funding component within its business operations. The company is currently navigating a dispute involving the appointment of receivers and managers and associated creditor actions.
Assetora has secured consent orders from the Supreme Court of New South Wales that impose interim injunctions preventing the appointed receivers and managers from exercising their powers and restrain enforcement action by the relevant creditor, while allowing the company’s directors to continue managing the business. As part of the agreed framework, the parties have established a process to calculate and pay redemption amounts owed to noteholders, including reasonable costs, within specified timeframes; once these payments are made, the receivers and managers must retire, necessary regulatory filings will be lodged, and a statutory demand and related court proceedings will be set aside with each party bearing its own costs. The company characterises this arrangement as providing a constructive and orderly pathway that maintains operational continuity while final payments to stakeholders are completed.
More about DomaCom Ltd.
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$4.79M
Learn more about AOH stock on TipRanks’ Stock Analysis page.