In a feudal scumbag country like the Phillipines you expect to...

In a feudal scumbag country like the Phillipines you expect to see companies with decent assets and a lack of corrupt friends in high places falling victim to shenanigens like this.

The big shame is that it also regularly happens in Australia.

As a rule, companies with a short term cash problem on the horizon and substantial assets should get very worried when their banker assures them that it is a shoe in to get the money, but they just need a bit more time to make the arrangements. Past the event horizon, the rug gets pulled, then it is off to the abbatoir.

An oldie but a goodie.

Billy