IOU PWC INSOLVENCY PORTAL, page-15

Another take on it: the Administrators say they do not have funds, and they are seeking legal advice as to whether the meeting can go ahead: the purpose of the meeting is to vote on the matter of removal of directors and replace them with alternatives - they have already been removed so the matter is null and void - what if the vote went ahead - do the new directors wait on the bench until the Administrators have decided whether to hand the keys back or not? They will have been appointed by directors who have now been usurped and the new directors will obviously want to remove the company from the Administration but how do they assert their authority if they are voted in while the company is in Administration? I think that may be the reason for the urgent legal advice, rather then the matter of not having enough spondula for a meeting. IMO