Ann: Redflow enters Voluntary Administration, page-54

The VA does a cursory look into any actions board and management have done but on your shareholder $ I am sure they have been well advised and educated and as you understand have done VA to protect themselves from insolvent trading and to gain safe harbor to try and force some form of deal, In reality that deal if possible and not many achieve it will usually wipe shareholders to a insignificant position via recapitalisation.

There is poor business choices and there there are ones that are likely to result in a claim. The ones you have mentioned are not formally criminal as such and unless you can find a smoking gun and somehow make it juicy enough so a litigation funder will pursue it it is an uphill battle.

Sad and unfortunate but that is what happens with a IMO poor regulator who only chases cases as an precedent and IMO avoids listed companies most of the time.
If someone including existing management can see a future and pick up pieces from DOCA , receiver, liquidation they could have another go privately funded without listed burden and the technology may live but it is very big $ and requires a committed partner with deep pockets who is prepared to wait and follow it through. There is possiblya few natural homes for IP and technology be that to park it or learn from it but what they would pay is another story. ASX shells are not worth a lot these days.