Baillieu Valuation of VEC, page-222

Read into it, what you will or can. In my opinion it reads as though VEC was ignored, for what ever reason.

Quote -

“FT General did not provide the funding per the drawdown requests made by the Company in the required timeframe. While the Company has continued to work with FT General in order to obtain the funding per the drawdown requests, the Company also sought to establish alternative funding in order to meet financial settlement.”


“The Company is disappointed that FT General did not satisfy the draw down requests made under the FT General loan facility agreement. The Company is in the process of assessing its position in relation to the FT General loan facility agreement and will provide further information to the market as it becomes available.”


https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYD4Qy5zBCZtvJ6ke92GA==