mincor pulls plug, page-29

"CH was sold by VRE to MCR. MCR was to be paying VRE not the other way around."

I was responding to that comment.

VRE was in debt to MCR in the order of 7m, or so it would appear.

Yes, VRE was selling CH to MCR. But VRE still had to shell out operating costs. Is that so hard to understand?

Even with the sale, if extra costs had arisen at CH, they may not have been able to pay off the entire debt, and without being able to find a new lender (entirely possible), they were insolvent anyway. With Investec probably having first dibs on any money, that may have left MCR out of pocket. Does this make sense? It may be that something like this understandably got MCR all riled up.

Do you understand why VRE may have had to pay MCR now?