Comment by: Anonymous. Posted 14 years ago [2010-03-15 22:14:16]

Possibly not, Trustees are generally wary and by going to the court to get a ruling it protects them from being sued by one of the investors, if they simply take their own legal advice and make a decision. It seems like a prudent step to try to get all investors on side and get a court ruling rather than open themselves up to an investor dispute and the associated legal costs and bad publicity if one of the investors sue

Comment by: Anonymous. Posted 14 years ago [2010-03-15 15:35:53]

The earlier article mentioned that the Trustee was taking advice from its lawyers on this matter. Does the fact that this has now gone to court imply that one of the investor's has challenged the trustee's decision?

Comment by: Michael Peterson. Posted 14 years ago [2010-03-15 14:36:58]

The original version of this article contained an error in the second paragraph - see comment below. It is the trustee and not the manager which has called for noteholder representatives to come forward.

Comment by: Anonymous. Posted 14 years ago [2010-03-15 14:30:57]

The Trustee (not the Manager as the article suggests) had asked for representatives of both the senior and junior classes of noteholder to come forward. A senior noteholder came forward but no junior class noteholder came forward. The Manager's position is that they want this resolved in the best interests of noteholders generally.