I am only speculating of course, but I would say that if an...

I am only speculating of course, but I would say that if an organisation was placed under the magnifying glass for one aspect of their business, which was later found to be riddled with issues, it would follow that other aspects of the business would be placed under internal scrutiny and potentially some structural changes made that mirror those that were implemented as a result of being investigated elsewhere - I suspect this because I personally experienced great difficulty getting a loan for the purchase of a business following the royal commission, and then even more difficulty when Covid 19 first necessitated lock downs. the discussions I held with the banks representatives confirmed that the royal commission was responsible for the level of assessment I was subject to - this is just in my case.

To answer your questions directly, I am not implying that banks didn't lend altogether - I am implying that it would have been far more difficult than prior to the royal commission. Ability to repay the loan most certainly would have been a factor, as I understand it, the whole world has experienced some level of financial uncertainty during the period in question - therefore I expect that the situation wasn't at all isolated to CAN and their business plan.

Anyway, you won't convince me that these factors were not at play. I'm happy to see your perspective on it though - for sure CAN management made numerous announcements insinuating that the financing was a sure thing... and then obviously this was not the case and ultimately it blew up in their face, along with a poorly timed pandemic!

CAN were unable to secure financing in time to gain first mover advantage - they did commence construction anyway - which can be looked at as a positive and a negative. Construction has been delayed by the pandemic.

I don't know that the reason they couldn't get the loan was due to a less than desirable business plan - numerous institutional investors at the time liked the business plan, investors liked the business plan - YOU liked the business plan (you invested!). I just think lending was under so much scrutiny at the time that CAN didn't anticipate the time it would take, this spilled over into Covid and here we are.