newmember1212, If you read the Announcement the AEJ board states...

newmember1212,

If you read the Announcement the AEJ board states that they are putting the offer that has been agreed by the Receiver. So I suggest that it has been negotiated between AEJ board and the receivers. The only hurdle now is that the debt holders agree to the deal. I suggest that they will as the receivers negotiating the deal with the AEJ Directors would indicate this is the best offer to realise cash for the debt holders (which is there Job).

The announcement was quite bizzar but my belief is its purely how long the debt holders are prepared to take to make a decision.