Ann: Appointment of receivers and managers, page-379

The similarities in the situation are close.  But also different.

disallowed/business/companies/kinghorn-play-for-mineral-hill-goldmine-in-doubt-20141119-11pr4s.html

KDR didn't end up with control of the company because KBL ended the standoff by paying off the loan.  Something which I'm sure the VA is also working on as it's the first priority.

KBL, however, decided to continue mining with a new refinanced loan but soon went bankrupted anywhere.  They didn't really have time to shop around for the right refinanced loan given the time constraints that they had. It was some sort of convertible note loan arrangement I believe.   

The A40 board (as we know) decided on a different cause of action that what KBL decided to do. Called in the VA so get some breathing space/professional help in refinancing or paying off the loan. Plus of course - to stop mining by placing the plant on care and maintenance.

Haplo