RE: Going Private?24 May 2022 18:15
Nobby31,
I wouldn't give the man that much credit. Besides, who would buy all this junk, at any price? Arguably, Islandmagee has a value, Riverstone accepted it as collateral, after all, although the more time that passes, the riskier that "asset" becomes. Funny how they didn't take the yards in hock...I think it more the case that he saw an opportunity to leverage up the company, in order to overpay himself and chums, in the hope that public money would come in and keep the plates spinning long enough for him to make his fortune. Ironically, in over-stuffing himself at the trough, he cut off any potential for the granting of public funds.