offer banks 0.1c in the dollar, page-14

I'm not entirely sure that that (hey 2 thats!) is your issue here. The issue has been, and will always continue to be, the inability of the company to refinance its obligations with its existing banking partners. As property and other asset values have fallen across the world, banks have moved to ensure their security is still in place. Obviously there was doubt in this scenario which caused them to call up some funding. The company couldn't find it. It didn't have the resources to find it elsewhere, the pack of cards came tumbling down.

I don't think you could ever argue what you intend to argue. Hindsight is a wonderful thing. Your only course of action here, and has always been in Australian corporate law, to argue that your rights as a minority shareholder have been infringed. Have a look at the Gambotto v WCP case (1995). It could provide you with some avenues to argue - if you have the horses!!