Yes Ivan, disappointing news if taken at face value.
The Administrator will not be commenting on the businesses outside their administration. I would suggest that we have a right to hold an EGM for those businesses, as we are concerned that the current board or its appointees are unable to carry out their responsibility of protecting shareholder interests. Whether there is a precedent for this type of situation, I have no idea. It is something that we should research, and if we have a member familiar with corporate law I encourage them to take a look.
From that perspective, it might be just a stack of cards, as we know those within the administration are linked to those without, at least by cross guarantees.
Your thoughts?
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