C law I believe Arrium will survive. Simply Arrium is a...

C law
I believe Arrium will survive.

Simply Arrium is a collection of companies under a corporate umbrella.

Starting with SI -assets tenements and village and rail wagons and ONEROUS take or pay contracts.
Unless there are cross or underlying guarantees to ARI inc this company can be liquidated - Sorry GWR (see you've already booked $US20m loss i believe),contractors getting paid for nothing-millions saved.Bust just like many other small IO miners,with no call on owner shareholders (aka ARI inc)

Numerous other businesses will be running under different entities and will be profitable.
They too can be isolated from ARI's current situation and added to the plus side of business assets.
Generating cash into the ARI/Liquidators bucket.

Those that aren't profitable and can be isolated with debts to assets evaluated and similar decisions made as SI,if need be.

Because this voluntary admin has excluded Moly-Cop its cash generation can still be used to pay down interest comfortably ongoing.

Two things have occurred -Moly-Cop is seperated from the fiscal drag of the losers and the losers are identified and debtors made aware of their circumstances and likelihood of getting anything.

Over the coming days,I suspect those dealing with ARI steel businesses in the East Coast will find they dealt with individual businesses (companies)that are individually profitable and their debts likely not at risk.The employees may also be in separate pension funds and so on and not be bothered.

Without this VA SI would have continued to suck ARI dry.

Lets hope the fools haven't cross guaranteed creditors or contracts to the ARI inc entity,or not too much.

Time will tell.

DYOR + DYODD The smart ones will likely turn out to be the unsecured lenders to ARI inc who will be left with the incoming producing assets to meet obligations.