Lite Access Technologies Inc V.LTE

"Administration in United Kingdom"

[Dogfather23229]

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.

[LowtoHigh]

I'm out...I sold today. Too risky for me. I like risk, when in small doses but too much staked up here. Good luck to all.

[warrior007]

This post has been removed in accordance with Community Policy

[Norwood66]

I am not bullish on LTE, but to go bankrupt means that you owe money to someone. Does LTE own money to anyone - I haven't looked at its balance sheet.  What is more likely to happen is that it is going to spend all of its cash and eventually cease operations. This would be 12 months or greater in time but the stock will live in the land of the living dead. I think that they will have to