Glacier Capital appeared to be cunning and capable enough to...

Glacier Capital appeared to be cunning and capable enough to extract hundreds of thousands of dollars from Gulf whilst under the leadership of Craig Munroe an accountant with more than 20 years of expertise in Corporate financing . Did the Board properly examine the terms and conditions and conduct adequate due diligence on the loan or was it just waved through without a proper rigorous examination . Did Gulf engage or outsource solicitors and lawyers or any other consulting personnel to examine and study the term sheet of this loan ? Who was The Australian representative of Glacier International responsible for assembling and managing the deal and do his actions and the structure of the deal constitute predatory lending practices . Was Glacier aware of the borrowers capacity to repay the loan and if so were they deliberating factoring in exorbitant extra costs with the knowledge that The Company was unable to meet those payments resulting in a default on the loan ? Were any additional costs and associated fees properly and fully disclosed in the terms sheet and were these fees agreed upon and understood by both parties ? It appears Glacier benefited significantly by imposing exorbitant fees and costs on Gulf possibly with the full knowledge that they did not have sufficient finances to make the regular repayments . Now we find ourselves in a similar predicament in the hands of Pitcher Partners who reside in the same building . maybe there is something in water over there ?
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