I don't know at the moment. It depends how agressive the receivers are in selling assets. We all know it is not a good environment to sell assets into.
I'd be more comfortable with an administrator in charge because they have to look after everybody's interests whereas a receiver just looks after the secured creditors.
However, there are some big players in the note holders e.g. JP Morgan (who are also a syndicate bank) so it may be that some pressure to get decent sale prices may be applied.
It's not looking too good though - assets of 7.5bn and debts of 7bn. A 10% reduction in the assets wipes out AFGHA.
afgha - a question, page-5
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