Ann: Administrators Appointed, page-112

If the receivership was a proactive move (instead of reactive), it would show clear intent that MAQ aims to clear it's balance sheet of the secured loan.

The move was made in reaction to the board filing for voluntary administration; allowing MAQ to protect its security in the event MAH took legal action.

If CAI can find a way to repay MAH, and MAQ have no intention of disposing of its loan or hedge book, we'll be able to resume trading but at a significant cost.

Waiting game.