What does this all mean?, page-4

For those that have been in this unfortunate situation before, what is the best case scenario here?

I assume, out worst case scenario being that shareholders recover 0c on the dollar.

I wondered, if proceedings held out for long enough and prices rose, would it be possible to get a better deal than the last traded SP? Would it be in the interests of the BOD to do this?

I also wonder how legally the BOD are allowed to put the company into voluntary administration, without first going to the owners of the company (us, the shareholders) and asking if the debts could be cleared with a cap raise.

I was hit with RCR last year and lost considerable investments on what was thought to be a very consistent and secure company that ended up cooking the books and allegedly trading whilst insolvent, now I am involved in a company that refuses to trade further while solvent and without asking shareholders if they are willing to keep going. At the same time, another holding PLS in a trading halt. The transparency of ASX listed companies right now is abysmal.

A register needs to be created that is held by the ASX so that shareholders can see if a member of the BOD has been part of a failed company before, and if so how many. Some of these directors are going from company to company creating massive shareholder wealth destruction, destroying peoples lives and thinking nothing of it. For the health of the ASX, something needs to be done to improve transparency and keep the bad guys out.