harry's blaming the banks

Harry is blaming the banks for refusing to take a haircut for Hastie's demise.

"A former Hastie director, Harry Boon, who resigned on Friday along with Lindsay Phillips, blamed three banks for refusing to take a write-down on their debt.

“This was not a ship that was sinking,” Mr Boon reportedly told the AFR. “It had two independent financiers who looked it over and were willing to put the dough in and we had a minority of bank who, in my view, were acting unreasonably, and we could not budge them. At that point, what's a director to do? We'd tried so hard.”


Extracted from here

http://www.businessspectator.com.au/bs.nsf/Article/Hastie-auditors-come-under-fire-following-collapse-pd20120528-UQP4E?OpenDocument&src=hp5