My understanding [which is not based on any knowledge of the...

My understanding [which is not based on any knowledge of the process] is that Marcus had to come up with the best scenario [or scenarios] possible with shareholders included in a plan A or if not feasible then plan B without them which would be presented to creditors who would vote from the options presented to them on the plan they want to pursue in the interests of the best possible return to them. That has not yet occurred although very close.

The carve up is subject to approval but the process is already under way preempting that approval.

When done Marcus will then institute that plan on creditors behalf, call in the liquidators, make his report and close the doors [delist Newsat]