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"If they vote it down, regardless of whether it creates a need to import insolvency practitioners or not, Tsenin is right. The biggest winners will be receivers and lawyers and there will be "vast destruction" of value for everyone else."

Yep and I think he's saying Hayleys Comet is arriving 50 years early also and heading straight for Australia. Absolute disaster

Sounds like the secured lenders stand to lose hundreds of millions of dollars. Geez it is a pity it has had to come to this.

Having worked in insolvency for a number of years, I know the receivers are going to absolutely love this. This will be a once in a lifetime job to take on