From Catalyst's statement: "As at the date of this notice, none of the Conditions, other than the minimum acceptance condition contained in section 11.8(a) of the Bidder’s Statement (Minimum Acceptance Condition), have been freed or, so far as Catalyst knows, fulfilled."
In other words, Vango hasn't found anyone gullible enough to give them an UNSECURED $5 million line of credit, yet.