Hello, thanks for the concise information.

I have had the moneys returned to me , but only AFTER multiple chats with support, phone calls and various transfers.

The item sold near same time of other items with similar item values which has made this a real pain to reference given the amounts managed payments drew from the original amount to cover other sales, fees, that they also drew from linked bank account to cover the refund, and then the managed payments to my linked account of similar, but not same, amounts.

Just a complete waste of time, and a deterrent to posting items for sale in fear this could happen again.
Having said that I am now prepared to face very similar issue. On alternate selling account I have  a new account hold on near $600 of single payment for item being couriered to remote destination. Hold will be in effect until item delivered. If all the same rules apply then it is very likely I'll be going down the same path given normal delivery time let alone if delays due to current circumstances.

It seems that the most streamlined and efficient process that eBay cares to allocate time to is the initial billing of members.