Arrium in Administration according to AFR street talk, page-25

IMO to put it into liquidation its not in the best interest of lenders, in a firesale event buyers will only be interested in buying mollycop & maybe syd mel operations they won't touch whyally & IO mine as those are the reasons for ari's downfall. If they had to shut whyalla then all the cost associated with it, employees benefits, tax, cleaning up will come first before unsecured creditors, I would assume those will be in the hundreds of millions. So whatever they can get for mollycop & the rest it must pay those costs before the lenders can get anything. Doubt they can get 55c if that evantuates. What i am hoping for is change of management, lender support ari as a going concern, government & workers all contribute then see if ari can trade out of trouble. If not then liquidate but this time with lenders fully secured as a condition in further support of ari. Guess we all just need to wait and find out in a few weeks time.