Ann: Trading Halt, page-17

Why the trading halt then? If banks pull the pin then sure they have cash but they also have a bunch of trade creditors to pay as and when they fall due.  With negative net tangible assets this could cause a problem.

If you can't pay debts as and when they fall due then technically they are trading while insolvent (abiet their business in my view is worth a hefty sum). If you trade while insolvent then directors become personally liable.

If this syndicate pull the pin what other bank would lend to this company when it has a class action etc.

I suspect all will be fine as the remaining assets do have real value and could easily be sold to satisfy any bank debt.  I don't think it's that dire.

Based on the current streamlined structure I think it's a matter of getting some breathing space to keep banks at bay.  Perhaps if they can't do this they would likely not sell anymore assets but perhaps consider a capuL raise.

Who knows, it's easy to think the worst but time will tell.  The whole VET sector has been hit hard.  I spotted this from an insolvency firm

https://www.ppbadvisory.com/insights/d/2015-11-11/vet-fee-help-crackdown