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colaiscute

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The upside is that the bowtie wearing buffoon does not have a ready made job to go to now, what goes around comes around LOL.

I do hope that the company can continue though, especially for all those patients who have one installed in them!

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A representative from Ferrier Hodgson, however, contacted BTN shortly after this story initially went to print and denied the company would be sent into liquidation immediately.

Orqis itself may file for bankruptcy protection in the US as a consequence of the dealÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s collapse.

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"Orqis itself may file for bankruptcy protection in the US as a consequence of the dealÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s collapse"

 

Rumour has it, the reason they went broke is because they sent way too many staff here to Oz on first class to check out what VCR had, LOL.

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spyglass one word probably "squat".

They would be more inclined to move it on as fast as possible and collect their cheque.

Would be interesting to know if this buyer had not been there what would have happened to the proposed DOCA by the save ventracor clan. Think they should now offer the 8 million and then see what the present holders can make of the company!!! V1

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Surveying the wreckage of 10 > 12 % of of my "piggybank" Stock holding in "Punts" I have seen ESI, ERG, & now VCR go "Kaput". Only left with MST ( Have mentally written off) NMS , TFC & RML still kicking along. My so called Blue chip comfort zone CSL,BHB. NAB. WES etc have also given more excitement than I really need. Fortunately "Booze" cupboard is still reasonably healthy except after 2 glass's I fall asleep ! Check Gray's liquidation online dayly wine auctions . " Hic" I never bid more than $80.00 per case delivered having "Googled" source Winery , Only bid on better than $220. per case @ Winery lots & am embarrased @ how often I win. Can't drink it. Don't want to leave to kids who would not appreciate. "Cie la Vie" what a tough period we are going thru. Still better than poor folk in "Booze" business. Cheers , b2.
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Bit of egg on the face never hurts !!! Maybe they will think twice next time before making recommendations......

Ferrier Hodgson losing heart JUICY fees aside, insolvency firm Ferrier Hodgson must be ruing the day it agreed to sign on as administrator to the collapsed heart pump maker, Ventracor. It must have seemed such an easy brief at the time: help offload the cash-strapped company's assets to an already identified buyer, and return the funds to creditors. Who would have thought that the prospective buyer, the US-based Siqro, would pull out of the $10m sale after the deal had been approved by creditors? But after receiving a call from representatives of Siqro at the weekend, advising that its financial backers had developed cold feet, Ferrier's Steve Sherman appears to have little choice other than closing Ventracor's Sydney-based operations and placing the once-lauded company into liquidation. That would likely open the door for the intrepid Ventracor Shareholders Group to relaunch its campaign to recapitalise the company, install a new board and management team, and ensure the business remains in Australia. A month ago, Sherman advised creditors to vote against the shareholder's rescue proposal, arguing that the Siqro deal provided greater certainty. Yesterday, he was asking representatives for the shareholders whether they could come up with bridging finance by the close of business, while Siqro's parent company, Orqis Medical Corporation, was apparently filing for bankruptcy in the US.

http://m.theaustralian.com.au/business/Opi...g/0/fi41789.htm

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$10m to buy and another, $15-20m to support over the next 12 months.

 

I'm surprised a VC hasn't picked up the pieces, with an aim to on sell within the next 1-2 years.

 

Cheers

Matt

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