What I infer from the announcement is there is something dodgy...

What I infer from the announcement is there is something dodgy about Pacific Road and it has been exposed by this transaction.... I infer that because Pacific Road is the one being uncooperative [by my reading of the ann]. Calling in the administrator is the prudent thing to do and doesn't necessarily mean the demise of CNX. An administrator can access more legal and regulatory help for CNX.
In the meantime, CNX can hope to hunt up some bridging finance.