Not my doing , the banks are itching to get their money back. Only way for banks to get their money is appointing a receiver to handle the asset sale. Most likely all or part of Star Sydney.
Lenders say it is unlikely to meet covenants tests on its $330 million loans in the March and June quarters.
Star’s board said it was considering other “liquidity solutions” on Wednesday night, which include asset sales. The company and its bankers have been in talks with potential investors for months.
Another source linked to the lenders said: “It is getting close to the end of the road; there are just too many hurdles for Star to jump.”
SGR Price at posting:
11.5¢ Sentiment: None Disclosure: Not Held
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