Business
Crown’s future rides on Packer’s high-stakes testimony – Sydney Morning Herald
James Packer tried for two years without joy to sell out of Crown. Now the intensely private Packer is the star witness in a legal drama that could change his c…
The level of desperation to unload Crown shares became clear during testimony from Michael Johnston – a director of both Crown and Packers private company, CPH – one of the executives tasked with dealing with Packers stake.
Johnston spoke of three potential parties that had been targeted as possible buyers of a 19.9 per cent stake in Crown belonging to Packer. Dubbed project Rhino, Project Tiger and Project Lion, the inquiry would only hear the identity of one of these would-be predators – Sunc…
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