The administration will likely become a liquidation.The...

The administration will likely become a liquidation.

The creditors may well vote to appoint their own liquidators in place of the administrators.

At which point there is virtually zero chance of anything being returned to us share holders.

A pittance might be forthcoming from the class action, but I wouldn't get your hopes up.

My share of the class action against Newcrest was a cheque for $43.00.

I didn't know whether to bank it or frame it.

In the end I didn't want to be reminded, so I banked it.

Sorry, but you asked. I am just as gutted as you are.

I will probably wait until the fat lady, or more likely the fat liquidator sings with a declaration that the shares are worthless. (See my earlier posts)

If you want to realize the loss sooner, you with have to go through some process of selling/transferring the shares to someone else for a peppercorn or some such. No doubt an accountant could advise you on how to go about that.

Cheers