Resolution2 will allow the company to hand over way too much...

Resolution2 will allow the company to hand over way too much power to NAB. And this is the same NAB that pulled the plug on DSH, in the way they did it. A simple corporate debt for PGC  would only give NAB the power to pull the plug. But in the proposed cross guarantee arrangement they will also have the power to manipulate operations. This his what the EGM notice says-

(b) the operations of the Paragon Care Group may become restricted by the representations and undertakings in the new Facility Agreement and related finance documents.

The acquisitions PGC have done so far, look good to me. Going harder in the same direction is something needs thinking about. We can rely on the management’s track record so far, but it is difficult to forget the saga of ABC Childcare. Paragon’s NTA per share now is negative enough, but going further negative, should be considered very carefully - in my personal view. Also in my opinion, if Resolution2 fails, then Mark Simari's new role as Head of Merger & Acquisition will become restrictive. On the other hand passing Resolution1 will help new CEO Andrew Just to grow the company organically.