Ann: Landmark Deal On Costs - Mining Back On, page-74

Not sure how Atlas screwed the creditors. Obviously they were concerned that if Atlas kept operating under present conditions, there might not be enough meat left on the carcass for them to recoup their money, so they wanted to slay the beast now.

The CR now gives creditors some relief from those concerns knowing there is a healthy pile of shareholder cash they can lay their hands on should the company be forced into administration at a later date.

There is every chance that Atlas tabled a debt/equity swap and they baulked due to lack of confidence in the IOP - ergo, the company's future.