Morgan Stanley's legal action against the collapsed Arrium group threatened to force Arrium's highly profitable Moly-Cop business into administration, destroying up to $500 million of value for creditors owed a combined $4 billion.
An affidavit filed by Arrium administrator Mark Mentha of KordaMentha in the Federal Court on April 18 which has been obtained by The Australian Financial Review details Morgan Stanley's aggressive pursuit of its debts and the potential consequences for the banks, suppliers and thousands of employees owed billions by Arrium.
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Tim Binsted writes on Business specialising in Agriculture, Construction, Manufacturing. Tim is based in our Sydney newsroom. Connect with Tim on Twitter.
