I understand the process Oz. Just can't comprehend why the Board...

I understand the process Oz. Just can't comprehend why the Board i was so ineffective in averting this slide to obscurity. How did they let it be handed to a potentially disinterested, dollar foccussed & otherwise ignorant liquidator? Couldnt they muster a supportive investor in the last days to prevent this.Surely the german utilities that have units in the ground could be motivated towards a placememt?
How far did they actually look?
Separately, why wasn't the full extent of the perilous situation fully explained? Chip in or we are bust? I would have loosened the purse. strings.
Raving