Ann: Material Terms of Employment (Chief Executive Officer), page-53

shareholders won't get a say at TEN, the administrator works for the creditors

http://asic.gov.au/regulatory-resou...creditors/creditors-voluntary-administration/

It's the creditors that get to vote on whether to go into liquidation, do a Deed of company arrangement or hand the company back to the directors, shareholders don't get a say.

The fact remains that through any process, QIN's creditors need to be made whole. If they aren't going to be made whole, then the whole company - or as much as makes no odds through a debt for equity swap - will belong to them, not current equity holders. Creditors have no reason to be generous to equity.