Hi All, From what I understand whoever has the right of...

Hi All,

From what I understand whoever has the right of receivership has first preference of sorting out debt issues owed to that creditor prior to others, so if they can get the company running long enough to know that there debt will be repaid they will hand it back to the directors of PLV to manage the JV again.

If not i guess GNR have first dibs on selling the assets..unless someone else takes them to court and removes Kordawatever from being the receivers.

Either way these receivers have run this company better then anyone else we have had, maybe we should make them CEO if the ship doesn't burn..

Cheers, kev

extra info on administrators/liquidators and receivers
http://www.businesslawtoday.com.au/...-administration-receivership-and-liquidation/