Ann: Redflow enters Voluntary Administration, page-72

No action can be taken against the company whilst it is in administration.

Most administrations end up with the company being placed into liquidation. In some cases, the company lives on following the company entering into a Deed of Company Arrangement with another entity - often a buyer of the business with the support of the directors. However, all claims against the company arising before the administration are compromised by that process. Whatever is left in the pot following the DOCA process playing out, is divided between creditors, and then shareholders if any left. Don't hold your breath.

Either way, S. 596A of the Corporations Act enables "eligible applicants", with the approval of ASIC, to summons former directors of a company for a public examination for the purpose of obtaining evidence and information to support the commencement of proceedings against a company, its officers or advisers. Former shareholders considering a class action can utilise this process, if ASIC grant their approval.

I suggest holders keep checking in to this Board to see if anything ever comes of that.