Who is the bebtor and why do they think it is recoverable?If I...

Who is the bebtor and why do they think it is recoverable?

If I have read proposal correctly that 200k will o to creditors trust ? Was that the office furniture payment - they sold furniture ( ie stripped last asset but never got paid? I can't remember numbers and not worth energy. I am wondering is they are one and the same so self extinguishes?

The lack of detail in prior accounts and ASX announcements or lack of them defies belief- well not really but ASIC and ASX are such a wet fish and useless at enforcing the most basic of reporting rules IMO.

Any new accounts will gloss over everything I suppose and not even list asetts . You would have thought that

I thought a administrator was also obliged to take any action and notify ASIC in regards to prior directors or is that only liquidators? That is why they get paid the big bucks but no such action. Still for all the $ in the world this was a risky administration not knowing what would come out of woodwork.

What do you reckon that a poster who used to post positively here had a knowledge of one of the new directors ?

All washed up and cleaned now .

Wonder what they have sitting on shelf to reverse takeover into shell and just how they will go with ASX tightened rules in regards to changing business classification of ASX listed companies. Might be easier since not a single asset left other than possibly up to 30k in cash.

That 30k won't last long either.

Such a shame to see old directors and staff walk away with no black marks against names and could go off and do it again?? Worth seeing just where they turn up and how the whole family survives. I suspect they hold all machinery etc and are doing same old same old ????

All IMO and I am clueless in just about every regard.