Isaac
Years ago

Bruce Carter: 12 EOIs received

Bruce Carter was just on ABC 891. They've received 12 Expressions of Interest and Carter is happy with the number.

Several expressions of interest have been for all three assets, and some expressions of interest have been for separate assets. Before they are able to sell the licences they have to go through a license approval process with the NBL and WNBL.

He will not confirm if a church has expressed interest in the Dome. (I've heard that a church has gone for the Dome.)

The NBL will look at the financial viability, so the NBL will assess that ultimately, not Ferrier Hodgson.

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Sixers33
Years ago

12! Interesting...

So, only 4 get asked to put in a full proposal?

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In the Know
Years ago

I guess if people have shown interest in all three they must be in the front running?

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Anonymous
Years ago

how much of this whole thing has been a media beat up though. first it was said the crows and power were in by carter, Not interested! then with Pickards kids down there, Not interested, this to me is another beat up to try and make potential bidders nervous.

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Isaac
Years ago

Sixers33, that's if you believe Channel 7 reporting on the day of EOIs being due. Possible, but not the official word evidently.

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Anonymous
Years ago

Bruce Carter has no vested interest in the sale of the items, he gets paid either way, so i'd throw more credibility behind words from his mouth, than any other 'media report'

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Kev
Years ago

and the fact its on abc radio, not 7/9/10's tv news is also good for it being credible, not just hype.

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Fiji
Years ago

85211

"Carter has no vested interest...."

Are you kidding.

Yes he does get paid, but like at the time of his appointment (remember all the positive comments about how good he/they are) these guys pride themselves on doing the best job as the administrator/receiver and its a competitive world.....read its about getting the best financial outcome.

The better the outcome the better the reputation the more new business.

Put another way he is no more than a salesman right now.

Does 12 EOI sound better than 4?

Increase in competition generally means an increase in the price.

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lockstock
Years ago

I agree Fiji. I've worked closely on another reconstruction that Carter did some years back and I can certainly vouch for his interest in ensuring not only that the best financial outcome is achieved, but he will choose the purchaser who he thinks will provide the best experience, management expertise and innovation/initiative to the future success of the business (provided, of course, the right price is paid)

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85211
Years ago

Fiji -

yes i'm serious. Carter's role is not to obtain the highest value, in management re-structure and business sale the purpose is to obtain

- the fair value
- the right bidder

not the highest. You obviously don't work in that profession so i shouldn't expect you to understand, but the liability at present rests with the govt. so they want to ensure a buyer that will be sustainable long-term, not a short-term cash cow, that's only going to cause more problems in 2-5 years.

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Injured Worker
Years ago

You guys have been sniffiing too much helium.

Bruce Carter is only interested in Bruce Carter. He has never run a real business, does not know what it is like to face risk and survives on peoples mistakes. Like all administrators/liquidators his only interest is getting the liquidation/administration appointment, charging his fees and bailing in the shortest possible time before shutting the doors or handing what is left to anyone who is willing to commit to an offer. He did it to Harris Scarfe and the managers that bought it ran it like a real business and made 80 million in two years. Carter got his fees in full and the creditors he represented, well they got a few cents in the dollar.

Look what Carter has sat by and allowed to happen in WorkCover? Shows what happens when a liquidator trys to run a business! He delivered South Australia a Billion Dollar debt and has no idea how he is going to deal with it!

There is noone in the wings waiting to buy a 5 million dollar building for two million dollars in WorkCover!

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Hoops

Bruce Carter: 12 EOIs received

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