Gordon, Murdoch lob new bid
Gordon and Murdoch committed to increasing Australian content output.
On another day of high drama, KordaMentha did not disclose the revised Fort Street letter to the ASX until about six hours after the letter was received by the administrators, a delay that triggered a complaint by Mr Gordon’s lawyer and adviser, John Atanaskovic.
In an email seen by The Weekend Australian, Mr Atanaskovic sent the offer letter directly to the ASX’s senior adviser, listings compliance, Belinda Chiu.
“Ten has (at best) had a checkered record of compliance with its continuous disclosure obligations as a listed entity since it went into administration,” Mr Atanaskovic wrote to Ms Chiu.
“So I am sending you the attached letter in order that you raise with Ten the disclosure of the letter by Ten through the ASX, if not even for the ASX to arrange its disclosure on the ASX announcements platform.”
In response, a spokesman for KordaMentha said: “Appropriate communications will be made at the appropriate time.”
Earlier this week, KordaMentha was forced to defend its actions during Ten’s receivership in the NSW Supreme Court. Among other accusations, it was alleged that Ten’s creditors were “left wholly in the dark” about the value of Mr Gordon’s and Mr Murdoch’s previous bid.
Lawyers for Mr Gordon argued that neither the original report by KordaMentha nor a supplementary report to address deficiencies in the first one supplied any material as to the effective value of the transaction.
Mr Gordon is seeking a court declaration that KordaMentha failed to give creditors adequate information about his joint bid with Mr Murdoch because the official report was deficient in several respects.
Justice Ashley Black is due to hand down a judgment on Monday.
The court action was brought last week by Ten affiliate WIN Corporation, owned by Mr Gordon. 21st Century Fox joined WIN as a plaintiff in the court action as a program supplier to Ten.