I am not sure they would be in compliance with ASX listing rules...

I am not sure they would be in compliance with ASX listing rules if their sole purpose was taking another company to court. They may plan to back door exploration rights in exchange for cash and or shares.

In respect of Altura's 'significant asset value' could the announcement be referring to these:-

https://hotcopper.com.au/threads/ann-exploration-update.4729474/

https://hotcopper.com.au/threads/ann-lucky-13-prospect-confirms-gold-potential.5533172/

PLS acquired Altura Lithium Operations Pty Ltd which owned the Pilgangoora lithium mine and operation. AJM has three other Australian 100% owned subsidiaries, Altura Drilling Pty Ltd, Altura Minerals Pty Ltd and Minvest Australia Pty Ltd. I am not sure but speculate that other tenements and prospects perhaps were not housed in Altura Lithium Operations Pty Ltd but the parent company or one of the other subsidiaries. Hence why there were two sets of administrators, to keep the respective assets and liabilities separate.

I lost interest in AJM when it went into administration and have not looked at it until yesterday's announcement. Would be happy to hear the views of others more up to day than me.

All of this is my opinion only. DYOR