Ann: Preliminary Financial Report 2020 Financial Year, page-17

They could have paid their dues in July but were unable. They then had to 10th Oct to come up with a binding deal. In both cases they failed to keep to their commitment. They had two opportunities to fulfill their agreement with the LNH. They were unable to do this and this is what gave the LNH a legal right to do whatever they wanted with the secured holding. The guilt lays with management. Put yourself in the position of the LNH. It was clear Altura were not able to fulfill their contract and the LNH had an opportunity to recover their debt after a period of uncertainty wrt the Lithium market and saw this as a way out.