Ann: Results of Meeting - EGM, page-169

>I can't see how PWC have not put an end to the subsidiaries being managed independently to the parent,
Because the way they are currently being run they are solvent entities, and therefore, of value.

Why would they change the management structure and risk devaluing the subsidiaries?
That would be a worse result for creditors, and additionally, PWC would be liable for this drop in value.

While it is a total weasel move by the old BOD to attempt to retain control using VA as a cudgel, and while the administrators may well know this, they are the directors of IOUpay Ltd now and anything they do is on them.

As it stands if the old BOD do anything to remove value from the subsidiaries, PWC are liable for that loss for leaving them in control. They know this.