I don't see it that way, if the FIRB & frydenberg didn't...

I don't see it that way, if the FIRB & frydenberg didn't indicate that they could block the deal we would have been left with zero consideration along time ago.
The creditors stacked the board and took control after the default by the offtake partners. Whether that was planned to take control, doesn't seem like a stretch given where the creditors were operating. ie cayman islands. If there wasn't a requirement to satisfy the FIRB it would have been game over.
I think we're lucky that the delay allowed Bald Hill to recover its true value and give shareholders a shot.
The intent of a DOCA should be to protect the creditors rights (which is fair enough) and return and money recoverable to the creditors. But then, where possible re-instate the company. The first part has been done, ten fold. Austroid (creditor) has made a killing. Austroids right have been recognised, and now it's time for the shareholders rights to be recognised. The delay made that possible.