from a simplistic point of view can not see how it was solvent. they may try the line that as long as they got loans they were able to continue existing BUT how was the loan to be repaid when no revenues - so can not see how it was solvent.
yes as you say "used as an instrument to.............." think thats the majority of opinion!.
from a simplistic point of view can not see how it was solvent....
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