Ann: Trading Halt, page-234

The additional $70m draw down on the remaining $135m facility would have been secured by the facility created more than 6 months prior to VA appt.

Also, the provision you are talking about only invalidates a circulating asset security (i.e. cash, debtors, inventory) and not a non-circulating security (though in the case of DSH the inventory is the main asset and this security invalidation provision would be relevant).