Ann: Voluntary Suspension, page-82

Dougal1,

The delay and indeed the years gone by, is really just the Chinese way of running this down as far as they can possibly manage, but remaining marginally shy of it all going under, which really isn't in their interest. The time and expenses thus far reduces SDL's leverage and increases Chinese leverage to the snapping point, which is the end of the line for all stakeholders. I think what we are seeing now is exactly that.

With respect to Hanlong, they still exist as an entity but its shareholding in Sundance is controlled by China Development Bank as the mortgagee of the original loan used to purchase the Sundance shares in 2011.

As for the loose ends you mention, knowledge of SDL's history paired with the details they agree on as part of the extension, one should be able make a reasonable guess of where this will go and what needs to be done.​