BfIt is the lap of the gods. However if a lender appoints a...

Bf

It is the lap of the gods. However if a lender appoints a receiver, they generally direct how things go. If the directors appointed a VA, that would no doubt be an act of default and entitle them to appoint a receiver, which lenders in effect will direct. They do not lose control of cash flow, in fact it enhances it. A receiver can run the place for how ever long the lenders like , for some examples, you can look at Cambridge credit in the 1970s which was run by a receiver for over 30 years!

Anyway, hopefully will not come to that and we will get to see some value.

Cheers

Baraka