ELD 0.82% $8.47 elders limited

Lionel: My point is that he convinced the bank syndicate to roll...

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    Lionel: My point is that he convinced the bank syndicate to roll the loans in September 2011, along with new covenants, and then in October, ie a month later, announced writedowns that caused Elders to breach the 1 month old covenants. And as yet we have no confirmation the banks are willing to reset the covenants...
 
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