Ann: Appointment of receivers and managers, page-387

KBL didn't go bankrupt, the same thing as with A40 happened.
Creditor (mining contractor) decided they won't be able to pay the money they were owed and called in breach of covenants.

When it became clear they won't be able to raise money and keep operating: they called in VA.
VA submited several DOCA proposals to creditors for approval,
But they failed for various reasons.
Then the creditors voted to liquidate company and appointed VA as liquidators.