massive wall being built, page-47

Under administration, does the maturity matter though? Assumed they'd all get a proportional share of the funds, rather than as they fall due, sorry not an expert in that area.

If so, the later maturity lenders would likely offer to transfer the outstanding debt, in order to keep the company out of administration.

If not, the earlier maturity lenders would know they are first in line to get their money back and as such, would choose to extend the facilities.

Still find it hard to believe the sweep was the only choice, management got played by the banks.