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Most creditors of Network Ten are today receiving payments of 100 cents in the dollar under a dividend distribution announced by KordaMentha Restructuring.
For some creditors, the payments are higher than originally estimated.
Mark Korda, Jenny Nettleton and Jarrod Villani of KordaMentha were appointed as administrators of Ten in June 2017. Following a successful recapitalisation process which resulted in CBS taking control of Ten, the administration was finalised in November 2017. CBS provided $40.58 million to fund a dividend to creditors.
Today’s dividend provides:
Mark Korda said the outcome for everyone involved in Network Ten was outstanding under the circumstances. He said: “The network has a strong and stable new owner, a talented leadership team and a loyal, creative staff whose support was critical to the successful restructure. The viewers, advertisers, content partners and suppliers also helped the network get through a challenging period. And most of the creditors are now getting all their money back”.
Michael Smith, +61 411 055 306.
Founding partner of our real estate group KordaMentha Real Estate, Berrick Wilson, has this week been included as No.28 in a list of 50 most influential people in Australian cycling.
KordaMentha partners, Grant Graham and Neale Jackson, have been appointed Voluntary Administrators by the Board of menswear clothing retailer, Meccano 2016 Limited, trading as Meccano.
Earlier this year, the Australian government introduced the Fair Work Amendment (Protecting Vulnerable Workers) Bill, which sets out to increase the penalties for serious contraventions and broaden the scope of compliance respon...
We are pleased to advise that our Forensic practice has been recognised as the leading digital forensic group in Asia-Pacific in Who’s Who Legal 2018 Investigations edition.