Ann: Appointment of voluntary administrators and trading halt, page-27

i would love you to show me a small listed company who has been put into the administrators hands and then got out of it with existing holders not being diluted to practically zero. It never happens. Sadly, whilst you are right they are different, the aim of the VA will not be to turn the company around, it will be to work out how to return the most cents in the dollars to the creditors... many of whom will rank well above the ordinary shareholders.