Ann: Appointment of Receivers and Managers, page-39

That's an incredibly interesting point you raised! I had assumed that ownership passed to SO4 with the certificate of completion, which was issued back in June (ann 1-Jul-2021):


If that's wrong and the contractors still own the plant then that creates a difficulty for the creditors and Korda Mentha. It also puts the contractors in a position of potential power ahead of the other creditors. It's hard to know where that could end up. Korda Mentha control the land the plant is built on, and can legally prevent anybody from gaining access to it. The contractors could prevent Korda Mentha from executing any contract of sale or lease to a third party. It could end up in legal proceedings for years until the whole thing is a pile of rusted wreckage. Unlikely though. It's in everybody's interests to do a deal.