ikhutch - you have absolutely no equity in the project, unless the new owners feel a bit sorry and chuck a few shares your way. you are an unsecured creditor, you rank bottom of the pile. the secured creditors have first dibs on any cash the receivers get.
the only way you have equity is if min/ati feel like giving you a few shares for your old ones. this happened at monarch, where mr kiernan valiantly said our shares were worth 1/10 as much as market when the receivers came in (ie 2.95 instead of 29.5) but the chances are he did this to avoid 'problems' since he was the previous owner, and he effectively drove the asset into the wall then bought it back for next to nothing.
the best you can hope for is that you get a tax right off before June 30th. sorry, but wvl holders who post think they'll get something - you are dillusional, just like the previous management, and probably the future management.
leave it to the goats
TSL Price at posting:
17.0¢ Sentiment: None Disclosure: Not Held
