stop finger pointing plz., page-15

They also announced the receipt of $5m from
sale of Panton since the last quarterly so there should have been about $20m in the kitty before any trading losses.

Wow. It looks like the need to urgently pay the former contractor $10m was the cause of the insolvency. How could management have overlooked this minor disclosure in recent updates to the market? What else has not been disclosed that will now seep out over coming months?

At least the $10m payment should leave some cash to pay the Administrator and the long service leave/entitlements of management and other creditors. Wow.

PLA's projects are all subject to different earn-in requirements, so PLA's assets might start to evaporate in insolvency situation.

Other than the former contractor collecting the ten mill, the
Administrator and management with big payouts due, hard to see any winners here.