is all hope really lost ???, page-4

IMHO there is another possibility.

The CI scenario is great news for the 'bankers'. But there is also a very large implied threat of administration in the announcement.

Maybe the announcement was a threat to the October debt holders - If they wish to play hard ball, they may force the company into administration - instead of them getting their money back in an orderly fashion, they may be forced to wait for years. A huge incentive for them to be a little more accommodating than they have so far appeared to be.

If they accept another three month extension, a more balanced resolution may work out better for all parties.

Just a long shot 'hail Mary' scenario that could work out in a good way.

Hold BEPPA