Creditors come before share holders, they may get to own the...

Creditors come before share holders, they may get to own the company and perhaps turn it into the successful business it always had the potential to be. VXL will most likely live on under a different name once share holder interest is stripped away. As a privately owned company management will be far more accountable. The future of the company is quite likely to be positive but the present day share holders will have no part in it. That's the way it goes I'm afraid and the ASX will do nothing at all.