Oh well there it is, shareholders will not receive any funds back....I feel for all those who have lost..Not good.
"The majority of creditors of steel and mining group Arrium will receive just 15 cents in the dollar following the company's sale to British billionaire Sanjeev Gupta.
The first dividend of $500 million, representing 10 cents in the dollar, will be be distributed to unsecured creditors by the end of October, administrators KordaMentha Restructuring said on Thursday.
There will be another two distributions, one of 2.5 cents in the dollar in December, and another of the same size in 2018/19, the advisory firm said.
About 5,000 unsecured creditors will share in the distributions from the sale of Arrium to Mr Gupta's company, GFG Alliance, three weeks ago.
Finance creditors will be paid 70 cents in the dollar."
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