VA in other country

If VA is granted by the court in other country,the interests payable by VA companies are stopt to add after VA granted (no more interests are paid by VA companies) and in the most of cases,creditors including banks give discount on debts by the same rate to VA companies.
And the most of VA companies survive and get out from VA after few or several years later.
But in Australia,the most of VA cases,receivers sell assets at fire prices and banks get the most of the money.
So some times unsecured creditors get nothing or get very small dividend from liquidated fund.
IMO,it needs to be changed in Australia too.