Forgive me, i'm not up to speed but is it not the case that if the CVA is rejected then they will form a newco and the SPL/SFA will bend over and wave them straight back into to SPL with nothing more than a slap on the wrist?
Or is it being taken out the hands of Duff and Duffer and given to some new HMRC friendly receivers who will fire them down the tubes? That would be nice....