Ann: Outcome of Reconvened Second Meeting of Creditors, page-2

Dead but not buried just yet. Prolonging the agony.
On the surface at least it looks like the administrators are looking for an outcome for shareholders but who knows what’s really going on behind the scenes and if GMC does end up a going concern you can bet us shareholders will be greatly diluted as we’re certainly not playing our hand from a position of power.
I dare say any rescue plan would probably need to include the resignation of the current board as in my opinion they squandered away a sure bet.