If the charge had been there from the outset then I don't think anybody would be arguing about it. However, it was there less than 6 months at the time that the VA was announced. A couple of things I have read suggest that a charge less than 6 months old can be overturned (although I don't understand all the ins and outs). If that is the case that could be helpful as the banks could not put a receiver in place.
I know I might get nothing back but I'd rather the administrator was in control rather than a receiver.
I found out about the Note Trustee. It looks like it is Trust Company Fiduciary Services Limited. They are bound under the trust deed to look after noteholders' rights and should be writing to noteholders shortly.
AFG Price at posting:
14.0¢ Sentiment: Hold Disclosure: Held
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