Wrong. The shareholders rank behind thecreditors and are...

Wrong. The shareholders rank behind the
creditors and are unlikely to receive any dividend, but if the creditors are paid off as a result of the liquidator finding buyers for the I.P. and other assets (although the I.P. is the most valuable), what remains can still go to employees and shareholders (yes it would be a miracle) but I really don't want to see this go according to plan for ASOF in any case! Why would anyone?

The other advantage of liquidation is that the liquidator is required to enquire into the failure of the company and possible offences by people involved in the company
and report it to ASIC.

I want to see this company liquidated because we're not going to see a cent. If ASOF gets their way we won't see anything except for some spare change and who cares about that frankly. At least with liquidation we can stick it to these yanks, throw a spanner in the works, and maybe just maybe see a bit more than spare change if we're lucky. I for one will be voting to not approve the deed.