That 26m was when DGR were offering to pay out all of AJQ notes...

That 26m was when DGR were offering to pay out all of AJQ notes and debt so that it could relist (early Dec)
The Receiver (working for Shunkang/ADZ) wouldn't provide them the actual figure of the debt, so they were unable to make an offer to pay it all out.
According to DGR lawyer (in transcript) they were refusing to be paid out because while they (receiver) was still in charge of the debt, they could tell ADZ exactly what offers DGR was making during the Administration process allowing ADZ to bid higher and win the company which they ultimately did.

All that was the mid Dec court hearings.

What they are back to now is that the Receiver should never have been hired by Shunkang/ ADZ to put the company into Administration because the misrepresented why they were buying the secured notes.

Shunkang made an offer to buy AJQ for 16c (16m) plus 15m secured notes and 20m Mac notes so all up offer must have been around 51m.
They ended up picking it up for 20m.

I imagine they will settle, if it is around 25m it will still be better than what they originally offered and were willing to pay.