If gov chips in, banks let arrium as a whole continue running with equity participation from gov, and massice cost cutting program..it could be a win win solution for everyone.
Mind you, this VA was called because management was trying to protect themselves, knowing that personal risks would be high..it's better to call it now.
Now VA is not the same with liquidation.
How do you suppose to liquidate a profitable mining consumables? How do you suppose to liquidate whyalla steel?
My take is that we will see arrium continue operating with diferemt management, and assistance from gov and further compromise with the banks.
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