why call administrator now, page-28

This is the prospectus.

comb through it.

http://markets.news.com.au/Announcements/2007/0524/00723766.pdf


What is a Trigger Event? – An occurrence of any of the following:
– Allco resolves in a general meeting to be Wound Up;
– a provisional liquidator or liquidator is appointed to Allco,
except where:
– in the case of a provisional liquidator, that appointment
is revoked or set aside within 10 Business Days; or
– the appointment is to effect a solvent reconstruction;
– a court makes an order to Wind Up Allco;
– an administrator is appointed to Allco;
– Allco executes a deed of company arrangement;
– a receiver or receiver and manager is appointed over
the assets or the undertaking of Allco; or
– Allco breaches the Distribution Restriction.


Will Holders know if a
Trigger Event occurs?
– Yes, Allco must give notice to Holders that a Trigger Event has
occurred as soon as reasonably practicable after it becomes
aware of such an event.
Appendix A,
clause 6.3
What are the
consequences of
a Trigger Event?
– A Holder may request Repayment of all their Allco Notes by
giving an Exit Notice to Allco. Allco must then Repay or Resell
(or a combination thereof) the relevant Allco Notes.


As this is a trigger event, can we request repayment?
and this become an immediate debt. Ranking higher than bank loan?