Given the alleged misconduct/non-disclosure/insider-trading/breaches by the board and management, shareholders have right to be recognised as creditor such that holders will be involved in the VA process.
http://www.smh.com.au/business/aust...olders-try-to-jump-queue-20160512-got6b6.html
Holders also have every right to lodge class actions against the board for the very similar reasons to SGH case initiated by Maurice Blackburn.
https://www.mauriceblackburn.com.au/current-class-actions/slater-and-gordon-shareholder-class-action