I've posted an excerpt of section 588G of the Corporations Act...

I've posted an excerpt of section 588G of the Corporations Act below.

Keen to hear people's interpretations of the below...

Facts (excerpt below highlighted to key references):

1. We know GMC currently owe debt of $6.4M from the quarterly dated 31 December 2020
2. We know $5.157M  was due on 30 September 2020 and is now overdue

Given the debt that is owed, I'm keen to understand whether GMC are able to issue more debt??

What are your thoughts please?