Where is it stated that PLLs OTA is with SYQ and only for PLLs 25% share? My understanding was that SYA put out an announcement around the offtake. If it was PLLs offtake to PLLs JV portion why is it an announcement to us? Why is it SYQ and thus SYA bears all operational risk of their arrangement? In that scenario. I think that just doesnt make sense.
If PLL cant pay they dig money out where they can an already have. Otherwise they simply wind up and bring in the liquidators.
No one can walk away from a contract because they simply dont have the money to pay. Or else there would be no need for contracts to begin with.
The GFC reshaped the US housing market on this basis. Home owners couldnt afford repayments, handed the keys to the bank and said goodbye. Thats the subprime mortgage crisis in 2 sentences. An the greedy banks re-shapping the porfolios of these "bad loans" and selling them to other banks.
Australia was ok because our financial system doesnt let you hand your keys in. Ours will fire sell your house with you still personally liable for the residual value of any intial loan debt.
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