Ann: Completion of Placement & SPP Announced, page-71

Id say just trade creditors as in how a business generally operates accruing debts.
Like your phone account, or Troys phone accounts for that matter, is likely an unsecured form - no security/collateral required in order to use the service/supply of the phone company - they just stop providing the service afterall.

Secured same as your mortgage to the bank - they can take your palace as its security.
In Troys case they borrowed (as they cant get enough ever) @ 100 million bucks last time round from Investec & if I understand correctly it will be secured by various forms of collateral such as the hedging, the market value of the entity perhaps, liquidity requirements and other contractual obligations.

hows that sound?

Trade creditors in Troys case - suppliers of business goods is the unsecured creditors

Secured with Investec is @ 8.19 million US bucks
Unsecured with Trade Creditors/suppliers etc @ 20 million bucks AUD or US


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