The DOCA is available from the Administrators if anyone wants a read. Essentially, shareholders wiped out and Stellar (the company that won the recent court case) or a related body will assume 100% of the shares. Secured creditor paid out in full, staff entitlements paid out in full, unsecured creditors get something like 65 cents in the dollar. Will be voted on next week.
Settlement proposed for 30 September or thereabouts.
A final capitulation for what was once (a long time ago) a good company.
HIL Price at posting:
2.3¢ Sentiment: None Disclosure: Held
