contractors

Correct me if I am wrong but once a contract has been signed with a supplier, that being the one owed $22.1M, GBG would have made progress payments and then had an amount left for retention.

In my view I believe this money would be already regarded as spent. They are just not handing it over the retention amount due to a number of thing, probably contractor not done what they said they would do.

This money would probably be a bank guarantee in lieu of retention?

Can anyone shed some light?