Just found this in the Australian online"Administrators...

Just found this in the Australian online

"Administrators appointed to The Agency Group
Voluntary administrators have been appointed to parts of listed prestige real estate firm, The Agency Group, over outstanding secured debt.In a statement Magnolia, trading as MCL105 Pty Ltd, said it had appointed BDO as voluntary administrators for the outstanding secured debt.Magnolia said a security agreement was entered into by Magnolia and The Agency Group (AU1) nearly one year ago.“Despite raising additional finance and offloading assets, the debt remains outstanding after repeated demands for payment,” Magnolia said.“Magnolia has lost confidence in the board and the unknown financial position of the AU1. As such, BDO has been appointed as voluntary administrator over AU1 only, not over any subsidiaries.”Magnolia said the appointment would allow for an independent review of The Agency Group without disrupting the trading businesses.Magnolia said it was determined to protect the best interests of creditors. It is expected that the business will continue to trade during this appointment period."

What is the AU1 board doing????? PLUS I cant see the Magnolia debt in any of the financial statements