How can it be? I speak here of GTP. They have gone into administration in the last few days. Administration is like Chapter 11 in the USA – it is a last gasp before the final blow is dealt. It happens generally because a company has significantly more debtors than it has cash. This happens because usually its model or management or a combo of both is flawed. And for shareholders and lenders it is like throwing more good money after bad and one day comes when financiers say enough is enough.