Agreed. It seems a very strange decision for EVM to destroy it's...

Agreed. It seems a very strange decision for EVM to destroy it's only asset. It is effectively a $US 250K gift to Apollo. EVM now has almost no tangible assets.

One possibility is that it was done to remove the obligation Apollo has to EVM. Now if EVM ceases to exist it does not impact Apollo. Otherwise if EVM went under the receiver would be able to chase Apollo for the $US 250K.

In summary possibly they are aiming to totally financially separate Apollo and EVM.