WPG 0.00% 1.5¢ wpg resources ltd

On further review in conjunction with this ATO infoI note that...

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    On further review in conjunction with this ATO info

    I note that the Liquidators declaration states:
    "declare that there are reasonable grounds to believe that there is no likelihood that shareholders of the Company, of any class, will receive a distribution in the course of the winding up"

    But the Administrators declaration does not to my interpretation make the declaration as to the worth of the shares or financial instruments such as options
    "administrator declares they consider the shares are worthless but does not make a declaration that they consider the financial instrument is of no value or has only negligible value."

    My point being is that leaving the door open to a recapitalisation of the shell Co?

    Anyone have expertise on these matters??

    ATO states:
    You may be able to claim a capital loss if you're:
    > a shareholder, and a liquidator or an administrator of a company declares in writing that they have reasonable grounds to believe there is no likelihood that shareholders will receive any further distribution for their shares
    > an investor who holds a financial instrument in a company, and the liquidator or administrator of the company makes a declaration in writing that the financial instrument has no value or negligible value. Such financial instruments may include
    convertible notes, debentures, bonds,promissory notes, loans to the company, futures contracts, forward contracts and currency swap contracts relating to the company, rights or options to acquire any of these, including rights or options to acquire shares in a company.

    You can't claim a capital loss for a financial instrument, such as a right or option to acquire a share, if a liquidator or an administrator declares they consider the shares are worthless but does not make a declaration that they consider the financial instrument is of no value or has only negligible value.

    https://www.ato.gov.au/General/Capital-gains-tax/Shares,-units-and-similar-investments/Investments-in-a-company-in-liquidation-or-administration/
 
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