Administration, page-11

I was at the meeting also. Administration happened yesterday at the directors own direction. They've appointed Pitcher Partners, however there is some disagreement as to the independence of Pitcher's given that they've appointed the old board and management back into position, presumably on their inflated salaries. Expect to see noteholders and other creditors be bombarded with material suggesting that Pitcher's are the best administrators (and by extension the management are the best to retain to manage the administration!!) and other creditors suggesting otherwise.