My understanding of the order in which any available monies are distributed is:
- Australian Taxation Office - secured creditors - employee entitlements - unsecured creditors - shareholder distribution
Effectively, it doesn't look good and probably the only 'benefit' to shareholders will be a capital 'write-off' for this financial year.
I suppose on the plus side is that the company is a limited liability company meaning that the maximum loss one can sustain is the value of their share holding.
Regards to all shareholders,
BTW, my stock sentiment is SELL (rapidly) !
MON Price at posting:
0.0¢ Sentiment: None Disclosure: Held
