The difference @col69 is the creditors control this not the FIRB in the first instance. For the creditors to approve an offer from a foreign entity comes with risks they will not receive their money in a timely fashion if at all, as yes the FIRB will need to approve which takes time meaning payment delays and potentially no payment.
Im not sure the WA Supreme court will approve a proposal that delays payments to creditors for an excessive length of time based on the initial court ruling, the Judge wants it sorted before Xmas if you take time to read.
