By staying in a trading halt the company are effectively saying...

By staying in a trading halt the company are effectively saying that there is no hope as SH would likely sell just to get something for their shares when they are really worth nothing. Would not want to see an administrator called in as this would just add costs to an already crippled organisation. IMO it's best to just let the creditors call in a receiver to liquidate the company. In that position Chimeara would probably be the only party repaid and the unsecured creditors including the board's termination fees would go unpaid. I understand the government has a back up scheme to pay employee entitlements but I feel strongly that the board (particularly the old board) should suffer the same fate as SH's. I would be much happier backing a bid to the receiver for VXL's assets (hopefully through SER) and let the rights issue fail.