I have just received access to the final Antares Creditors Trust...

I have just received access to the final Antares Creditors Trust - Report to Creditors, and to briefly summarise;

- No dividend available to unsecured creditors including noteholders, which is partly due to the blowout of costs in extending the DOCA period and the need to payout Macquarie US$500k to remove the NPI encumbrance.

-The Deed Administrators obtained legal advice that provided that no claim was available under the D&O policy, as "Any claim by Cruickshank under a contractual indemnity provided to him by the Company will be compromised by the DOCA, and so such a claim will not see the Company with any payment obligation (beyond the funds in the DOCA)."

So a total wipeout for noteholders despite sitting higher in the capital structure than shareholders, including one James Cruickshank! That is a perverse outcome...