ANZ sticking the gumboot in,not helping the orderly V.A.process.
http://www.copyright link/business/manufacturing/arrium-hit-by-anz-credit-freeze-20160408-go20rm
While ARI is deferring existing debts,it is still accumulating cash one would hope in its profitable business accounts,but at which bank/s????
One wonders how much was caught up in its Australian trading accounts when V.A. happened.
How much of the $300m at end of DEC still exists and possibly locked up in the BIG 4 Australian banks?
We'll find out hopefully soon enough.
Maybe day to day facilities are now from a bank outside the big 4, possibly one trying to break the big 4's strategic monopolistic hold.
DYOR + DYODD with enough free cash ARI and its administrators can restructure what it needs to to some extent-as long as the Cash Flow is positive,which I suspect it currently IS.More time bought until the creditors meetings.Maybe just maybe the banks who have loans to ARI inc rather than the individual businesses in V.A.,won't get an invite or a right to vote at the meeting/s.
Dreaming of course.
