Clearly another case of Aussie underarm bowling. Stick to the...

Clearly another case of Aussie underarm bowling. Stick to the letter of the law and you are right in the eyes of Australian law. The world recognises that descendants of convicts cannot change their spots. There is no integrity amongst thieves and the Australian ASX. Hopefully there are enough wealthy good people in the world prepared to stand up and see that those that live by this legal sword will not gain from it.
Gross incompetence at stuffing up the cash flow? No. Too obvious to mis-use this much revenue jumping at shadows, paying off debt, paying off legal battles, paying proven incompetent management. Deliberate sabotage for personal gain comes to mind to any financially savvy reader of the administrator's report. Page 30 tells the story and timing of the planned demise, blanket wrapping, and eventual steel from shareholders.
Good accounting work administrators, pity about the lack of forensic intuition.