receivers to be appointed today, page-12

It would seem that ABC was insolvent for some time. This would put Eddie and Le Neve in the firing line. Some of the charges taken by the secured creditors within the last 6 months will now be void as against the liquidators etc. This would mean the secured creditors under that charged are no longer secured and would rank with the ordinary creditors. Of course this means they get zip (speaking from my experience when companies have gone into liquidation)