Didn't these FH clowns screw up the DOCA and allow the plant to...

Didn't these FH clowns screw up the DOCA and allow the plant to process materials and earn an income whilst everything was supposed to be shut down, stagnating or being liquidated because it wasn't 'operationally viable'?

My understanding was that they walked in, and everything was in shambles. After having replaced everyone in the company they jerked about for 12 months and argued the finer points of nothing whilst the operators/care takers of the plant were generating and skimming revenues.

This is purely speculation based on a sentence here or there that is awfully ambiguous in the handful of documents they released.

The reality is, that they should have:
- ceased trade
- implemented an operational team for the plant
- created DOCA terms that stated a FIFO exit strategy for any creditor that wanted out
- maintained that DOCA until the terms were met
- and then release the company from its DOCA
- consolidation on reasonable terms - 1:30 perhaps.

As to how any of the decisions were made in this VA is beyond me. But then again, FH did manage the Dick Smith administration proceedings, and we know how bad that went.

1Mil. CR will more than likely be to pay fees for FH, at least a sizeable part of it will be.

All my own opinion of course.