MRV 0.00% 0.3¢ moreton resources ltd

New capital raising?, page-11

  1. 77 Posts.
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    99.99% of the time insolvent companies inevitably end with Liquidation.
    VA's are a mechanism that ease creditors into the harsh reality of the inevitable death and loss.
    Essentially, VA's deal with the first 3 stages of the 'Five stages of grief' - denial, anger, bargaining of creditors. Liquidation mops up depression and finally acceptance.
    Sure there are exceptions but only in exceptional circumstances. The administrator/liquidator upon taking the appointment is thinking how they may best extract fees while dealing with angry creditors. I was often abused by creditors and accused of being a blood sucking vampire. Again, I empathise with those who have been stung.
 
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