AZZ Opinions, page-81

Wind up = fire sale = no chance of getting fair value for assets. The best bet for all should a deal not be able to be concluded by 31 March and considering oil could be $50/$60 in the second half would be an extension to the payment of redemption with accrued interest and perhaps better conversion terms or some other offer to compensate imo.
If the CEO who has 10m shares of his own to lose and is based in Texas where the buyers are ,can't get a deal across the line with oil at $34 , what hope has a receiver got of getting didlysquat.