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The company is insolvent now and directors are liable for insolvent trading. Bank loan is voidable in this situation as Director signed for the loan

The company is insolvent now and directors are liable for insolvent trading. Bank loan is voidable in this situation as Director signed for the loan contract without Board's authorisation.

My question: What will happen to the loan? Who will be responsible to pay it back? Is it the case when a secured creditor becomes unsecured creditor?

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