Your support for the ruthless shenanigans of the bondholders knows no bounds. The bondholders did not appoint the administrator at all. 'Voluntary administrator' is a perfectly legit accountancy term, particularly when it is known the company is not in genuine asset deficiency.
The administrator is there to protect the rights of shareholders. No doubt the bondholders would have liked to break up the company for scrap without interference from the administrator.
For once I thought you would praise Williams for being fast on his feet getting an administrator in there to frustrate the BHs game-plan.
Of course the IFCA offer is dependent on the company being in one piece. That doesn't mean the offer is a myth or sham.
CMQ Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
