You're not listening. Financiers view major firms (such ad the...

You're not listening. Financiers view major firms (such ad the one you worked for) in a different light to small players. I.e majors have more access to liquidity and can absorb more volatility in prices due to revenue and project diversification and balance sheet. Financiers are typically more relaxed in imposing risk management constraints. Tap is not a major, does not have revenue or project diversification, lack of liquidity and more difficult access to equity capital. Project finance is about debt financing projects on the back of future expected cash flows and as such given they are in the future the financiers typically do what they can to derisk those cash flows. In this case I think the banks took their eye off the ball. But please do not mistake a banks incompetence as justification for Troy not taking a prudent strategy himself and protecting the company's assets. This is a one project company and he should have viewed it as such.