As Ten Network struggles through a drawn out insolvency process, there are many industry experts talking about the value that would have been preserved if the company had been able to get legal protection from its creditors.
It now appears certain that the mess at Ten will be exacerbated by the appointment of receivers by the Commonwealth Bank of Australia. That is a natural course of events as the primary supplier of finance seeks to protect its position.
But such an outcome would only serve to complicate the management of the insolvent company, which is in the hands of voluntary administrator Mark Korda from Korda Mentha.
This sounds bizarre but if the CBA does not appoint receivers and Ten ends up in liquidation, then Korda w…
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