Ann: Market Update - Status of Administration, page-6

No prizes for guessing who the creditors are at these meetings.
The major creditors were already negotiated with prior to getting the Administrators in.
The entire revenue generating asset of the business, purchased with $2m of shareholder funds has already been given back in exchange for settling a $477k debt.
The biomass asset was given to the landlord and contractors to settle their debts.
As far as I’m aware the outstanding creditors are the Directors with their last minute loans.
Creditors take priority over shareholders.
They didn’t even provide the financial accounts to shareholders.