ThanksYes now I understand what you are saying.I was only...

Thanks

Yes now I understand what you are saying.

I was only looking at the situation from a shareholder perspective. By far the most important to me!

My assumption - the lenders would look after their own interests.

But you are correct the lenders seem to be losing 120m not the 60m that would result from a default. And 60m is not an insignificant amount.

Therefore your point is most important. Why would they allow this?

Is there some valid unknown reason or is it going to come back and cost us - the shareholders in some, unknown way.

Maybe Mr Lucas could explain.