Dream World -22 Mar 2023 20:17
July 2022. Further to previous updates, the CV Receiver established a Bar Date of 25 April 2022 by which claims against CV must be made. SMG formally lodged its US$21.9m arbitrated claim by this date. The Company is still waiting for the Receiver to make a recommendation for the distribution of the assets, and SMG continues to have dialogue with the Receiver. Currently the Receiver has indicated they are likely to prioritise, in this case, equity claims over creditors, which is permitted under US law. At this point, there remains no certainty of any payment to SMG, but the Management and Board expect there will be clarity later this year.