That's the interim result of the defaulted loan being paid off, yes. The event/s of default of the Tribeca/GXY facility meant it was due and owing. That will no longer be the case.
After payment there will be no receivers/managers and the clear title of assets return to A40 in administration.
Obviously then CHEL has security over the same assets, but without a default there is no reason for the assets to be under management of receivers/managers.
Who knows where it will end up. Technically, with cash in hand, stockpile left (if any value) and the remaining part of the loan, A40 won't actually be insolvent.
What the doomsayers say could result, but it is by no means a certainty.
