Arrium in Administration according to AFR street talk, page-15

Clash of some very powerful and stubborn personalities, most or all of whom got no personal money in Arrium...easy to make decisions.
Hey, if Grant Thornton (Administrator) administrates Arrium well, then who knows 2 to 5 cents per share back to shareholders after liquidation (if liquidation).
A bit of reassurance that shares are now frozen at 2.2 cents...not price sensitive as declared by this morning's announcement...