Part of BYL's debt relates to the circa $30m equipment...

Part of BYL's debt relates to the circa $30m equipment originally bought for the Western Turner Syncline contract, and that residual would be written off over the term of that contract. The administrators may be able to let that job run its course, or novate the contract to an alternative service supplier who will take up the equipment, people, and equipment leases.

If the business were sold as a going concern, the tax losses would have a value – some value north of $10m.