ASIC get lots of issues raised and they have to sift the wheat...

ASIC get lots of issues raised and they have to sift the wheat from the chaff. They were in the loop with ASX when AZZ got suspended, so i think they are waiting on the outcome of an actual vote by noteholders.
On past performance they won't act if there is an orderly process in place unless they suspect an actual breach having immediate consequences that can't be addressed by eg appointment of an administrator, or by ASX doing what they are supposed to do, first.

I think pbawley hit the nail on the head earlier when saying that Aurora were concerned that their fund had been suspended because of their 8% holding in AZZG, and want it to be trading again asap. So it is probable that they want Antares in Administration, but if they agree to a moratorium they should get that anyway, until Antares can't pay its way, which may be in a few more months.

JC will hold out for some good news from opec on April 17 and then has no option but to take what he can get to avoid administration, from EGI or whoever. I spoke to him after the meeting and he pretty much agreed that Antares options are tied to the oil price, and his focus was to get the noteholders to agree to a moratorium based on the payout uplift which he has been canvassing. As others on this forum have pointed out, not enough noteholders seem convinced the oil price will rise enough for them to take the risk.  Getting cash to survive comes after that, but with noteholders  may be feasible, a big maybe.

SO it all depends on the oil price, and the most sensible article i have seen on oil price for 2016 is..
http://www.cnbc.com/2016/03/24/oil-is-still-stuck-in-a-bear-market-dennis-gartman.html