Because if you read anything to do with court liquidations on the ASIC website, shareholders have 0 say/vote on goings on in a court liquidation. I've taken the liberty of highlighting the below snippets from the ASIC website relevant to us as shareholders:
https://asic.gov.au/regulatory-resources/insolvency/insolvency-for-investors-and-shareholders/
However:
https://asic.gov.au/regulatory-resources/insolvency/insolvency-for-creditors/liquidation-a-guide-for-creditors/
THEREFORE I URGE ANYONE WHO IS CLOSE TO A MCGRATHNICOL OFFICE TO ASK FOR THESE BOOKS AND SHARE YOUR LEARNINGS:
https://asic.gov.au/regulatory-resources/insolvency/insolvency-for-creditors/independence-of-external-administrators-a-guide-for-creditors/#qs
AND
LIQUIDATION & BALD HILL FOR SALE, page-905
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