Council rejects Lehman offer
Wingecarribee Shire Council confirms that it has rejected an offer proposed by Lehman Brothers in relation to the Federation CDO.
General Manager Mike Hyde explained that the council can not discuss in detail the basis on which it rejected the Federation offer, given that it was a without prejudice and confidential offer made in the course of litigation currently on foot in the Federal Court.
"The council assessed the offer on both a financial and legal basis and decided that it was not in the council's best interests for it to be accepted."
Contact details
Mike Hyde
Tel: 02 48680888
wscmail@wsc.nsw.gov.au
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