advice on transferring pas stock

I know someone who got stuck with 20000 shares in the failed Zinz miner Pasminco which is now under administration. They cannot sell the shares on the market in order to crystallise the capital loss for CGT purposes.

Although the shares are worthless the ATO will not allow the CGT loss as the company is only in administration and not liquidation.

So technically they are still the holder of shares which have a value. The administrator has stated that no return will be paid to shareholders and I guess Pasminco will eventually be liquidated.

This party wants to get a capital loss in the current 2004 financial year and not sometime down the track.

The ATO has recently issued a ruling which states that it will allow the CGT loss where the current shareholder sells the shares to an unrelated third party by way of off market transfer, even though the transfer cannot be processed by the company (Pasminco) as it is in administration.

This party is looking to me as an unrelated party to act as the purchaser on the transfer documentation.

There is no value or transfer of money involved and no downside to me that I can see.

Am I correct in this assumption?

I understand that delisted.com were offering to do this for a fee but cannot pick up on it on their WEB site.