VOM1T
Whilst I accept your observations as to timing of retention periods, however there would appear to be a more basic issue as to whether E-Clear now have the assets available to repay GSM's administrators.
Lack of clarity in this matter is certainly not helped by the reluctance of E-Clear to publish its accounts albeit that these would only disclose historic data some 9 months out of date, and are may not provide any clear indications that there are funds available & accessible.
Coming from another direction, then surely the settlement with GSM was on a regular cyclical basis whether daily/weekly/monthly and as such then taking 90, 180 days or whatever, then in any specific period there will always be a settlement due placing E-Clear in default if unpaid, albeit not necessarily of anything like the total sum discussed.