Originally Posted by
Blackout
I don't see how they have been losing?
Did you miss the bit right at the end where Middleton J dismissed their application and awarded costs against them? That, by any normal accounting, is a loss.
The administrator will continue to run the process as they intended; the notice of meeting and report to creditors will be issued on the 25th, the second creditors' meeting will be held on the 4th, the Bain DOCA will be presented, it will likely be voted up by a majority by both value (secured creditors) and number (employees) and then it's done. All over, Red Rover.
The bond holders might want to take a shot at challenging the administrator's sales process but that won't reverse the sale.