Main debt level is $2.8 Billon. Employee entitlements were only...

Main debt level is $2.8 Billon. Employee entitlements were only applicable if it went bankrupt and did not get taken over. Trade crediotrs (what Arrium owes Suppliers) would be mostly cancelled by trade debtors (incomings from sales). Assuming you could add on another $100 million, you get $2.9 Billion. The total sale of Arrium (Molycop plus Arrium Australia) is worth more than $2.90 Billion. Hence, shareholders will get something back - and more than 2.2 cents. Every $90 million over $2.80 or $2.90 Billion is worth 3 cents per share. I reckon it is worth at least 9 to 10 cents a share. Let's see. Oh. And we do not know how much was in cash at time of VA on 7th of April. It may have been $100 million, in which case net dent is $2.7 Billion.