why banks dont give long term extension, page-26

Once administrators take over its just a matter of how long they can bleed the company for with their hefty fees.

When they have finished playing with it for 6 12 18 months they then carve it up and sell it off in bits to their mates down the road at a nice discount.

This would be the last thing the banks would want at this stage, depending on where you are in the pecking order.

The top creditors get some voting power, everyone else tags along for the ride, including shareholders.... who would be lucky to see much one would think.