My understanding is different.  I understood the assets and...

My understanding is different. 

I understood the assets and debts of Quintis (the parent entity) were moved into a separate vehicle.  The secured creditors are the owners of the new entitiy and therefore acquired the Quintis assets at very substantial discounts.  We the shareholders are left with the original Quintis entity that is an empty shell with an ASX listing; and a warm fuzzy feeling that we have first hand experience of how secured creditors screw shareholders.