Perhaps he may not have been required to notify if it was technically just using scrip for collateral even though in non recourse loans the borrowers can walk away with the $..... Also read on the AV website today that the LNC management had sought advice from them back in early 2015 on their directors liabilities.....I am presuming they were considering adrministration back then....none of that mentioned at the recent AGM. Hapless shareholders were sent like lambs to the slaughterr