I have to be honest a lot of this level of business is above my head however i would have thought the shell of VA would not be worth very much i.e not much to sell for the creditors if liquidation occurred and therefore approving the sale would yield a greater return. I know it is going to depend on what Bain are offering but surely it would have to be better than what they would get in a liquidation scenario.
Just my 2 cents worth