Ann: Appointment of Voluntary Administrators, page-77

''Overall result: estimate of percentage of insolvent companies that use voluntary administration to successfully restructure business 1% ''

Batboy no joy if shareholders lose all their life savings here- but rightly so you are correct there is a 1% chance but imo for retail investors less to recoup any capital

IMO

If a restructure of business took place you would expect all creditors both secured and unsecured to be in agreement

This situation has one huge secured creditor- debt

This will imo involve more shares being issued that will make the terms of the proposed $5.4m CR that failed look very very favourable indeed

Very likely in this situation dilution for retail holders would be huge as creditors would own the entire company going forward


DYOR