Well the future value significantly depends on whether...

Well the future value significantly depends on whether everything has been disclosed, and we cannot know if is has been or not. If the accounts up until now are indicative of the businesses trading, then the SP is currently a bargain. If there are massive refunds due to customers, for a start, then the recent years of accounts will really not be indicative of the underlying profitability of the business, the recent vendors/advisers could also sit on their hands and hope that IFL falls apart so that they might pick up bits of the business on the cheap. I sadly have personal experience of employees and contractors trying to sabotage their employer for their own advantage, in buying the bits back on the cheap, or picking up agencies etc.

So IMO the board and senior management should be replaced immediately. A jury has to assume innocence until proved guilty, but fortunately shareholders do not have that same requirement. What a tough job to accept (as a replacement) if they are sacked! The current can always be acknowledged as victims of bad fortune if it turns out it was wrong to sack them.

All IMO