While it is known that the Solar projects were a painful mismanagement, other parts of the business have great value which is why investors were attracted to the company. I would like to see RCR be given an opportunity to learn from this.
There is a Creditors meeting scheduled for December 3rd.
MgrathNichol site states "The objective of a voluntary administration is to preserve as much as possibleof the business of the company. Theprocess involves the appointment of a voluntary administrator to thecompany to administer and investigate the business, property, affairs andfinancial circumstances of the company. A voluntary administrator mustcomplete investigations, form an opinion about the company’s financialposition and its future and issue a detailed report to creditors of thecompany. Creditors are then given the opportunity to vote on the future ofthe company.
It would seem to me that the best interest of everyone involved including their Creditors is would be to get RCR back on its horse and keep going.
As the old saying goes
"Failure is the pillar of success"
Please share if you agree.
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