Obv only comes into play if admin turns into a liquidation...but GSO, even with ~20m break fee in pocket and repatriated to the US, can still be on the hook for a preference payment.
The question the liquidator will ask is was Arrium insolvent at time of the payment and/or did this transaction cause Arrium to become insolvent.
If there's any suspicion of a yes then I'd suspect there'd be the banks, creditors, shareholders cheering that on.
Arrium in Administration according to AFR street talk, page-53
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