appointment of receivers and managers, page-48

No, not the quarterly activities report, but the Q1 financials, issued on 28th May.

No worries.

You can't really say whether the R would sell for less. They certainly shouldn't. But you'd never know if the VA could have got more. Receivers can trade the company out of receivership. They can put it back on its feet, pay off the secured creditor and hand it back to the VA or directors. If it is decided that there is a chance of that happening the secured creditor will supply the necessary finance, guarantees and indemnities to the Receiver.

Yes, you could force a liquidation but then you can get into conflicts between the L and the R which might involve court proceedings to establish who should do what. Generally not helpful.