''Overall result: estimate of percentage of insolvent companies that use voluntary administration to successfully restructure business 1% ''
Batboy no joy if shareholders lose all their life savings here- but rightly so you are correct there is a 1% chance but imo for retail investors less to recoup any capital
IMO
If a restructure of business took place you would expect all creditors both secured and unsecured to be in agreement
This situation has one huge secured creditor- debt
This will imo involve more shares being issued that will make the terms of the proposed $5.4m CR that failed look very very favourable indeed
Very likely in this situation dilution for retail holders would be huge as creditors would own the entire company going forward
DYOR
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- Ann: Appointment of Voluntary Administrators
Ann: Appointment of Voluntary Administrators, page-77
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