do or die, page-13

Alpha,


"as Glenn has stated they have no covenants with the banks, so saying the banks can do "anything" they want isn't exactly accurate."

You need to understand that all of the loans are short term loans and each has an expiry date. As at the expiry date the bank can simply ask for the money back for No other reason but the date.

That had already happened and CNP have failed to pay up. Those loans have been extended with new dates. At the next criticak date at the end of April the banks can simply ask for their money.

That is why the banks are in control. They dont need to justify any particular reason other than the achievement of a contracted date.