That's exactly it.
Voting is still important. If the administrators see the amount of votes FOR the change, they have the power to bring in or remove directors. If there are enough shareholders voting FOR, then the only other piece of the puzzle is to get the funding and the new BOD has already expressed their ability to raise capital in the markets, plus Finran has also indicated they are willing to fund. So if we have new BOD and funding, then there is no reason why the administrators should not go ahead with this
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- Ann: Appointment of Voluntary Administrators
Ann: Appointment of Voluntary Administrators, page-96
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