That's the way I was reading it. On the one hand, Hartree has the upper hand, because they are/were the majority shareholder, and Debtholder. (Mallee owed them money) So...the receivers tasked with liquidating assets, may be looking to satisfy Hartree first. Hartree offered a low $800,000, but it would expunge the debt. (If I'm reading correctly.)
On the other hand, Summers is a large shareholder too. He is coming with (or already did) with a larger bid, but it might not satisfy the debt holders, thus that don't make Hartree happy. Also, everyone is an opportunist, so grabbing an asset for pennies on the dollar is everyone's goal. In my opinion, it all boiled/boils down to how the liquidators awarded the asset, and for how much, and to whom.
That may already be settled, but not yet publicly disclosed. Or it is still being hammered out, or needs more time for legal wrangling.
Summers won or lost, that we don't know. We don't know who the official mine is, in actuality.
Hartree, and Summers (backed by ME Group) both have the money and power to pull this off. We might be getting stalled for final verdicts. I don't have a clue, only following the crumbs as they've been released. :)
btw, that's some crazy trading at .0028 today.
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