09.01.2013

Ahern stay challenged

Don Ahern’s battle to retain exclusive rights to present a reorganisation plan for Ahern Rentals, looks set to enter a new stage on Friday when a court will hear a motion to dismiss a stay and appeal against an earlier ruling to open up the process.

We understand that up to 90 percent of the debt holders filed a joint motion in the federal district court on January 4th to vacate the stay and dismiss the appeal.

If the stay is overturned and the process opened up again competitive plans are likely to be seen as early as mid-February. Click here to see Ahern gets more time….. again or just put Ahern in the news search box.

Vertikal Comment

The fat lady is clearly still some way off from singing in this long drawn out process, which has gone back and forth in recent months. Don Ahern has done incredibly well to retain his exclusivity for over a year, when the usual period is just 120 days, he is clearly determined to fight to the very last to retain control of the company that he built up over the years.

The odds though are probably now stacked against him, however anyone who writes off Don Ahern is a fool. We may though be entering the end game.

Watch this space.