Ann: Chairman's Address to Shareholders, page-15

Maybe GCN has the votes only if R.Li can vote as he claims he is the largest creditor,however should he be allowed to vote as he is a Director of all the Companies and if this is the case than the law would be a arse.
Just let a lot of people work for you over a long period of time ,do not pay them or any other debt and then write it all off and start all over again and again.
Surely the ASX and ASIC must have a look at this.