This article describe neatly the situation imo.
If you look at my past messages you will see that on appointment of those vult... admins I immediately asked if we -as "owners"- had any legal means to revert this decision and appoint someone that has the creditors/shareholders interests at heart. I got no responses... I still don't know if it means we had no recourse avenue or if Kagara holders don't care about losing money :(