Banks make mistakes just like the rest of us. NAB lost $4 BILLION in the Homeside debacle. They cut their losses and ran.
I'd say it's a 60/40 call that an extension will be granted. Six months and the SP might go to 70c. Six weeks and it might sit at 30-40c. Default and it's all over.
A 60/40 gamble to triple my money is an excellent bet in my book.
