how can we save this company?, page-11

icred,

JV is not extinguished because one party goes into administration, still continues, you can't take away HNC's interest.
Basically puts HNC in box seat to deal with administrator.

DOCA will be the way out quickly but until total debts are known hard to say if anything left for shareholders.

If no one puts in a deal then goes into liquidation and everything sold off subject to pre-emptive rights of JV partner.

Oly,

No way can directors/administrators spin out non JV assets, they must be used to satisfy creditors, if they don't get a recapitalisation deal in excess of debts due nothing left for you.