Guys,
I suggest for those who own shares read the attached document regarding
liquidation.
In addition, you may find the articles on Ferrier's
Website helpful and give you a name to call if you have questions.
Types of liquidation. ( yours is the first type)
There are two types of liquidation for an insolvent company: creditors’ voluntary and court. The most common type is a creditors’ voluntary liquidation, which usually begins in one of two ways: 1. when creditors vote for liquidation following a voluntary administration or a terminated deed of company arrangement, or 2. when an insolvent company’s shareholders resolve to liquidate the company and appoint a liquidator. Within 11 days of being appointed by shareholders, the liquidator must call a meeting of creditors who may confirm the liquidator’s appointment or appoint another liquidator of the creditors’ choice.
In a court liquidation, a liquidator is appointed by the court to wind up a company following an application, usually by a creditor.
from the liquidators last official communications the R & M were still trying to sell the MBN assets.
I hope it works out for the best but I'd plan for the worst.
GLTAH.
