Ann: FY19 Annual Report (with App 4E), page-38

Yes, it's a possibility, but put yourself in the banks position.

I think they like being able to offload PDL to CCP, CLH & PNC.

It's in their interest for PNC to remain to ensure competition, & they have a good reputation in terms of complaints, ethics etc. I also expect there are some pretty long-term relationships on the PDL side between KJ & banks.

In terms of lending money to PNC, they have been established for a number of years, strong cash generation and growing business. With accounting / auditor issue resolved, it is probably a pretty safe business to lend to on new terms? Even if current banks don't fund, you would expect there would be other funding options. As both funders & clients they have a pretty good view of business fundamentals.

If funding doesn't occur, there is also other options.

Would be good if standstill agreement can be extended to allow more time for a deal as well as view of business performance.