administrators sell 5000ml of timbercorp water, page-4

This seems like the same thing align is asking the bondholders in TODHA. The bondholders only secured creditor must waive all covenants etc and roll -up interest for 6 months whilst they look for an answer. Why not as the secured creditor let the bond trustee put in a receiver and then see what your options are. I am voting no.

Disclaimer: I take no liability for the accuracy of my post. Do your own research prior to making any investment decision.