oh dear the very silly 7 banks have signed themselves into a facility where none of them can sell their debt ( outside their own syndicate I presume ). so they have attached themselves to this board of directors and this pile of management and this auditor and this cornerstone investor ..and worse to an aggregate in $250m in performance bonds . that's what the AFR story reveals today . and so the pathetic banks are now looking for a fresh investor to take over the company. they have worked out that an insolvency practitioner would not know which end of an electric eel to push down the I/O. sadly this is going to be a long and painful resolution when is octain going to confirm his willingness to nominate as a director? dont bother talking to Hastie ..it's the banks that you need to have your dialogue with ..they've got a $160m+ $250m+ $150m( class action) problem.
HST Price at posting:
16.0¢ Sentiment: None Disclosure: Held
