Ann: Request for continuation of Voluntary Suspension, page-25

i suggest the following:

no guarantee does not mean unsecured.

no guarantee means other parties are not directly liable, such as subsidiaries, parent company, related companies, directors, shareholders etc.

a creditor of FFX subsidiary may not have a guarantee (i would like to know definitely if there is a guarantee or not), yet the creditor may have security in the form of prescribed asset(s), and i strongly expect that security CAN be, may be, in the form of assets belonging to a parent company.

summary:

guarantee: guaranteeing entity is directly liable

security: a specific, prescribed asset is held as security (can be held in any entity as long as proper approval has been given)