Decision Diagnostics Corp (DECN)

[IPwatcher]

Does that preclude a shareholder from buying the company?

Why would 'a shareholder' (or anyone else) buy the (loss making and heavily indebted) company with all its legacy of debts and liabilities when in a couple of weeks they will be able to acquire the unencumbered assets from an administration?

Once the company is out of cash... its insolvent.
And then it effectively belongs to its creditors, not its shareholders!
The assets will be sold off and the proceeds given to those creditors. While the liabilities will stay with the shareholders.

If you want to blow $700 on a chunk of DECN debt, fill your boots.

Just don't ever look for any return on that investment!