This really comes as no surprise. I personally thought...

This really comes as no surprise. I personally thought administration would be in Q4 (CAL) so they have pushed a little past where I thought it would land. 

No doubt ASIC will be all over this. 

Further I expect the press will have a field day. 

This also signs the end of Albany. I expect the play will be Enel potentially taking over. 

This was an inevitable outcome the moment CCE got into EMC. CCE were led down the path into buying a business with a poor track record and reputation, major cost overruns on projects and I believe fundamentally insolvent. Yet the pig was dressed up with some lipstick and then a capital raise was undertaken. Shareholders were lied to and then there was no reporting on the true position. 

Shareholders should be focusing their anger and attention at the Directors past. If I were Mr Davidson and Mr Ottaviano I would not be sleeping well. 

ASIC have recently announced that they want profit confiscation powers.

If I were them a good one to investigate would be Mr Davidson who is ultimately the only one who has benefitted after the dump of all shares that have come out of escrow. I suspect he has been busy off loading Clean Energy Investment Holding (another major shareholding) shares as well. 

Let’s not loose sight of the fact he has now set up shop up in Broome in the old CCE / EMC premise, no doubt bank rolled with CCE money. Looks suspiciously like a phoenix play. 

Further the fact that Mr Davidson dumped all his shares given his inside knowledge of the business could easily amount to insider trading. 

If shareholders are aggrieved, I encourage you to speak to ASIC. 

Also expect class action proceedings if the business goes under. 

Finally, if CCE go into administration, I wonder if we will see Directors liable for trading whilst insolvent?