major catch to agreement, page-22

I agree with Kytsym and others; the terms are awful, ADY has significantly reduced its capacity to raise funds and Hawkswood has effectively been handed ADY's soul.

Is it possible that a court would nullify the charge Hawkswood has over ADY in the (likely?) event that ADY collapses? The timing and circumstances of the charge are very similar to that of ANZ over Opus Prime.

I've seen suggestions that Thomas may be compensated by ANZ for the loss of his holding in ADY when Opus Prime collapsed. In the event of ADY ceasing to exist, I wonder if ANZ would argue there is no longer any grounds for compensation.

Areo