mcc in strife

http://au.news.yahoo.com/thewest/business/a/-/wa/16040810/mcc-takes-2b-hit-in-wa/

Had a read of the above mentioned article and it looks like MCC are in deep financial strife. They owe more than $350 million and made a $22 million loss for the year to 31 December.

No wonder they appealed the court's decision for them to put $80 million in escrow. No wonder the mediation proceedings don't seem to be going anywhere. (Stalling tactics)

I'm guessing they are delaying as much as they can as a few million spent on legal action with a chance of not having to pay out $80 million is a good investment on their part.

I have to presume that if they weren't doing so badly on the Sino project they would have paid us the $80 million on time.