Looks like it was Shunkang that tipped them into Administration.
McGrathnicol affidavit notes that ADZ Energy Pty Ltd registered security over all the companies on 10th Nov (same day McGrathnicol appointed)
ADZ was registered on 26th Oct 2023.
70% shareholder and director is Xinming He. (other 30% Lu Liu and director)
President of Shunkang Group is He Xinming
If I read the affidavit correctly ADZ are covering ongoing running costs via a draw down facility.
Looks like it was Shunkang that tipped them into...
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