You missed my point - KM concluded in the second creditors...

You missed my point - KM concluded in the second creditors meeting that Arrium could not meet its interest and debt principal repayments as things were then (remember Molycop only got $1.50 Billion offer in January 2016 - now there is talk it may go for $2 Billion mark).

The 2 debts to be repaid in July and August 2017 was around A$800 million combined - that is why Molycop has to be sold as they do not have and cannot make $800 million in 12 months to repay it.

So if it now gets $2 Billion and the rest of Arrium as $800 million of debt, Arrium Australia cannot be sold (liquidated) if there is a VERY GOOD CHANCE of it repaying the $800 million of debt and interest over a reasonable time frame - say 5 years. Even more so, given that EBITDA for the next 5 years would be tax free, tariffs are in place, infrastructure boom continues

Will there be a recap plan or a simple return to trading for Arrium Australia?

It will simply depend on what Molycop can be sold for and if the creditors are prepared to be flexible in having the remaining debt and interest repaid. If it is good, then shareholders will get something back - in our favor is that we may have a case against the directors of the board for non-disclosure in the form of a class action lawsuit - this may force the banks to back down as compared to if we had not case against them.