I am not sure why it was marked unsubstantiated when i shared...

I am not sure why it was marked unsubstantiated when i shared the whole email except for the email addresses (due to privacy)





the summary of Alex's response was

- the short term loans were generously offered by directors to finance the legal fees of the LNH
- the loans were due to be repaid prior to the new financing arrangements due to occur on 26 October
- The LNH actions were a complete shock to the board
- if the directors had known they would have taken drastically different action to enter a VA where the board (and not the LNH) were in the drivers seat
- the board tried to appoint an administrator but Korda Mentha blocked it.
- the administrators and receivers did investigate the board behaviour and found that no breach of duties or preferential payments had occurred.

Alex also mentioned that the creditor report being referenced by some here was only authorised for sharing with the creditors so its interesting to see that non-holders have obtained copies.