The directors have already resolved to proceed with winding up...

The directors have already resolved to proceed with winding up the company and appoint an administrator, because they are of the opinion that the company is likely to become insolvent because of their inability to produce sufficient income or to raise funds.

Shareholders have no confidence in the boards ability to act in the best interests of shareholders in the process of winding up the company; or in selecting an independent administrator. The recent documented history of the management of the company gives enough support to this lack of confidence.

These things form the basis for an application to the court to appoint an administrator.