I might have missed something, and I'm not 100% sure but as part of the last extensions didn't the bank's get extra security in return for extending?
If the banks gave another 3 months, would that allow them to get around the 6 month clawback provisions on the extra security they were granted last time? Wasn't that one of the reasons the directors of Allco pulled the pin to spite the banks 1 day less than 6 months?
Let's hope that if this is the case GR won't entertain the idea of a 3 month extension, and will play hardball
CNP Price at posting:
8.7¢ Sentiment: None Disclosure: Held