the receiver isn't working for the shareholders or WVL he's...

the receiver isn't working for the shareholders or WVL he's working for the creditors, recovering as much of their funds as possible. he's not really in the game of holding out and getting the best possible deal - he just has to do a deal and recover funds.

the chances of there being a surplus of cash once assets are sold and creditors paid out is pretty remote. if someone came and bought VWL and recapitalised it you'd get a few shares, but the dilution would be huge - cents in the $.

windimurra are still burning significant $$$ with crushing contractor and power station receiving a penalty fee since they completed their part of the plant but are not earning money. the amount of cash WVL said they had last 1/2 yearly in January will be a lot less by now. this is probably why they're quite unwilling to release financial reports - for each month they wait, the less money gets returned to creditors.