From corrs.com.au: Administrators sought judicial approval for borrowing funds to ensure business continuity, backed by personal liability limits.

Justice Banks-Smith approved the administrators’ entry into a loan agreement with an existing secured creditor to allow the companies to continue to operate during a dual-track sale and recapitalisation process.

‘..it is prudent for administrators to promptly assess whether it is commercially sensible and consistent with the overarching purpose of the Corporations Act to borrow monies while running an appropriate sale, restructure or recapitalisation process.’