estimate a small loss for the half year, page-6

On the subject of Personal Guarantee.

As an old finance company executive, have had experience with this.

Most borrowers think, the lender will sell up the primary security & look to the collateral second. Does not have to be.

A default is a default. The flood gate is open, all options are on the table.

If the borrower is being difficult ( i.e. baulking at additional security ) the best way around all this, is to go the secondary security first, i.e. call up the personal guarantee, put his personal assets at risk ! It is amazing how this suddenly transforms the borrowers attitude.

CMI legal team, take note.