in breach of covenant?, page-9

It wouldnt suprise me to see ING Group quit its Australian property funds business entirely.
Just because ING is a leading global bank, it doesnt mean they will simply prop up their funds business, look at what Mac Bank is doing with its property funds.
Remember ING Group return on capital requirements will be extremely high in this economic environment, it will be scouring the world for opportunities for high margin returns, not saving debt burdened legacies who overpaid for assets