The key to this project is keeping the project finance in place,...

The key to this project is keeping the project finance in place, if the entity goes into VA then bankers walk away and not replaced in current environment. I believe this is main reason MuckBank want to do a deal, they have most to lose if it tips, as the lowest form of life in OZ banking can't say I feel sorry for them!

From limited info around seems QLD Gov keeps work to date at no cost, so they won't be out of pocket and simply do a deal with current Contractors to continue, losers in this case would be MuckBank as largest creditor and BCS entity.