Ann: Appointment of Voluntary Administrators, page-414

RT in control driving this bus
VA only needs to talk to them in affect to have them satisfied as dominant secured creditor before all secondary creditors and follow process.
RT can choose to allow VA to continue and negotiate for any asset they want at a price to satisfy debt ( if there is enough value) or if VA don't play ball has a limited time to appoint its own VA/ liquidator or if friendly to them use KPMG as such depending on circumstances. RT if they get enough value from firesale asset may just leave shell for VA / Liquidator to get their extra pound of flesh. VA love dealing with only 1 party for obvious reasons for those who have ever participate din such processes.

Unlikely scenario is that anyone puts in $ to pay out RT as RT still has NUH over barrel IMO due to technology, chip as only logical pathway to get value out of chip is via using RT . The business current NUH holder thought they had some ownership of is effectively gone from their hands and not sure if they are left with anything as bottom of list of creditors effectively. RT has been very kind IMO by the looks of their actions otherwise in court proceedings we would have seen significantly more aggressive commentary in letters produced from NUH . There had to be other "discussions" unless NUH was avoiding all communications IMO and obviously the Rt person at NUH had to be aware of circumstances.

Other creditors when and if ever asked to prove their debt are well ahead of shareholders assuming there is any value that can be realised and not absorbed in VA / Liquidators costs.

Shareholder unless a very deep pocketed white knight rocks up are effectively gone by 1000 cuts that will take ages for listed shell to disappear. Any party that rocks up regardless will be buying a shell assuming it can reach compliance and back in a new idea and the recapitalisation will wash out existing holders in massive dilution.

Just guesses on process going forward.