afgha - phone call to administrator, page-61

Guys if you really want someone to watch out for your interests as a noteholder below is an extract from ASIC's

Receivership: a guide for creditors


Other implications for unsecured creditors
Legal action may be commenced or continued against the company despite the appointment
of a receiver. This means that an unsecured creditor can apply to the court to have the
company put into liquidation on the basis of an unpaid debt. Reasons you might wish to do
this, particularly if the company owes you a large amount, include:
• an expectation that there will be money or property left over after realisation of the
charged assets and payments by the receiver
• possible recoveries that may be available to a liquidator for the benefit of unsecured
creditors, which are not available to a receiver
• a desire for a liquidator to investigate potential offences by those associated with the
company, or
• the ability of the liquidator to review the validity of the appointment of the receiver and of
the charge, and to monitor the progress of the receivership.

Basically all we need to do is appoint a Liquidator for ourselves.

I really like the last point being a review of the secured charge.

http://www.mcgrathnicol.com/currentprojects/allco/Pages/creditorinformation.aspx