Income flow from Carnilya Hill (minus VRE's share of development...

Income flow from Carnilya Hill (minus VRE's share of development cost) would still be cashflow positive. Settlement on Bronzewing only a few days a way. Registered Creditors will be happy with the outcome (better than nothing) DOCA will be accepted and Administrators will hand back the Company "as a going concern". I think they did an excellent job to find a buyer for Bronzewing with all the baggage attached.

It will be interesting to see the first balance sheet, cashflow statement and the costs associated with the Administration. I guess the Administrators are required to let the shareholders know the true position at the end of their involvement.