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21:24
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Originally posted by hottuna
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you keep trying to suggest that QIN was in a worse position in 2012 when CBA pulled the plug, but this is wrong on very many levels.$315m in secured notes alone, plus the put liability of $34m or so, plus the full recourse loan book they've sold ($11m from Frank!) that they'll have to make good on, plus who knows what else. They had $17m at the end of May, they've sold $8m of product in a firesale, and clearly they've had no material plantation sales and money is still flowing out, and the senior bondholders are now running the show. They've got an interest payment due in a week, and it would appear no means of paying it.
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You will need to keep posting your deadly reaper images (a couple of times a day )to get enough sellers to cover your shorts. A resolution is coming, and your easy ride is over. Imo.
