Ann: Appointment of Voluntary Administrators, page-45

Trafigura is in charge alright as secured creditor and can appoint a receiver now

AF IGO or BHP will have to pay out their debt $60M plus costs $10M whereas Trafigura just needs to pay out an offer for the unsecureds and administrator say $10M.
So Trafigura has 50% offtake deals with IGO at producing Nova Ni mine still so they have leeway with IGO here.

The dufus club of big boys BHP AF IGO Zeta burnt $13B on Ni plays in Oz with only IGO having Nova/SIR left to show anything for it. Trafigura is an offtaker not a producer so will look to recover its debt from the cash PAN holds and flip the balance of the operation for a profit say another $20M, they will not produce or run the mine which will go into C&M.

This proves once again the rich get dumber and richer while the poor get poorer and smarter.
the rich are way dumber than any of us here imho.

I mean would any of you burn $13B cash on thee investments like they did, NUTS.