I think you miss the point that the administrators work for the SECURED creditors.
You can bet your bottom dollar...............
The whole lot has been valued, and a fire sale value has also been established with the secured creditors.
AAA has made an offer above the fire sale value, so the secured creditors have counted thier beans and accepted the offer (read lower loss).
The unsecured creditors are free to bounce up and down.
Happens all the time mate.