"Administration in United Kingdom"Goog]e this term. There is a good Wikipedia article. Appointing an administrator protects a company's assets so that a plan to go forward can be presented or the company can either be sold or liquidated, instead of its assets being seized by creditors
My guess is that Cityfibre is attempting to seize the UK assets of LTE on the grounds of contactual non-compliance. The only defense I see is the argument of "force majuere", which refers to unforseen acts like war, plague, hurricane, earthquake etc. Covid-19 is an excellent example. This is a very good argument in my opinion but we could theoretically be looking at years of litigation.
There are, no doubt, opportunities in the U.K, but if the officers and directors keep taking their salaries, and the legal bills mount up, it is certainly likely the coffers will soon be depleted.
I believe that bankruptcy is imminent and the shareholders will get nothing but a tax write-off.
However, please read the article and draw your own conclusions.
This is the third time I have had a decent investment go down the drain because of circumstances outside a company's control.
I will lose about $32,000 CDN. Merry Christmas all.