Ok so it has happened. IMO voluntary administration is a better...

Ok so it has happened. IMO voluntary administration is a better option than administration. (That may come later) However for the people who have $$$ invested or owed (not the shareholders) this would include the estate of the late John Palermo, his brother (court action in progress) and from what I am led to believe one of the directors of HotCopper. These are the folks that lent $$ . So if they want it wound up what would they get? The family members of Mr Palermo are also heavily invested (in shares as well as the estate) By trying to work out a plan to keep it a going concern is in their best interests..

However if the patents and Ip etc are marketed and could be sold , depending on the $$ they could be paid out and shareholders may get something back.

I would think total owing is $2 mill? What is the IP worth to a multi national, or dare i say OBJ..

Maybe the directors sought voluntary administration to protect everything? this action may be what wa needed to get a finalisation of the court case, the people who were going to sign the MTA, what are they thinking..

On the downside, it maybe a plan from other entities (which may appear arms length) to obtain everything very cheap, spend some $$ and get the rewards us shareholders invested in the company for..

Is it over..maybe it is... its a sad day when another Australian company is forced into this situation, when will the Govt and aussies wake up and realise we need to support our own, or all of us will suffer in the long term.