Time for some lithium!, page-67

From what I understand the actual mine itself is with, and under the control of the receivers and not the VA who is working for unsecured creditors. The estimated return to all unsecured creditors is 0. So handing back to the directors is absolutely out of the question (at this point) as theres no mine to hand back. From the report a DOCA is also highly unlikely.

So most likely option is either straight liquidation (so VA doesnt burn cash from the creditors pockets after MBN cash runs out soon), or application for Court hearing to further extend the meeting. How long can the Court extend this? 2 years? 3? Its already way past the deadlines in the Corporations Act and will make a mockery of the administration process if the Courts extend this further IMO, especially when the VA has made his recommendations. Our best hope is a surprise DOCA coming in the next week.