RE: 11445239 Feb 2016 12:48
The purpose of the administrator is to attempt to keep the company operational and if possible find a buyer. Failing that then yes, they will attempt to liquidate all the assets and pay all the creditors before distributing any remaining surplus to shareholders. The main issue as I see it is the question of legal fees. They were incurred on a no win no fee basis. As the RNS clearly stated that the OXS case had been dismissed how can it possibly be interpreted as a win. The tax refund due to OXS may never have been in dispute in the first case for all we know so not the result of any effort by the legal team. If those potential legal fees can be avoided then with limited debts there should be something left for the shareholders.