Ann: Chairman's Address to Shareholders, page-14

If a deal can be done with the liquidator then I suppose things could go on for longer under administration.

But I don't see that the liquidator would do a deal to shift GCN Pty Ltd over to administration. His duty is to get the creditors paid as much as possible. So he would have to take a view that GCN could do his job better if he let it trade its way out of trouble.

IMO the problem for the liquidator is this. In 14 years GCN has shown no evidence that it can trade its way out a paper bag. It has steadily lost money over those 14 years. If that trend continues under administration then there would be less money for the creditors, and therefore the liquidator would have failed in his primary duty.

As for the statement at the AGM, I got a funny feeling from the words used that the directors of GCN fantasised they were in some way running the show for the liquidator.

I am wondering this. Would it provoke a diplomatic incident if the liquidator tried to force GCN director Jermaine Jackson to come over from the USA to Australia to answer questions. Or is doing this outside the powers of a liquidator?

What if JJ set foot in Australia to give a concert?