two questions, page-2

Lucky,
I've been overseas and playing catchup.

1) Bank - Your money is welcome.
My guess is that the bank doesn't want to try and wind up VDM. It's slow and the only winner is the administrator who drains the company dry dragging out the process.

The bank would welcome lower risk any one willing to throw money into the pot for obvious reasons.

2) Underwriting.
Are CR's always underwritten, no, however this one brings about a bigger question.
Paterson's has been placing VDM as a buy for quite some time, even with the sp heading south.
Now Patersons have the opportunity to underwrite and directly take a position.
One would think they would be keen to cut a deal to do so, after all they see VDM as a buy don't they?
Bottom line is they aren't underwriting, for whatever reason this may be.
Mav

P.S. Patersons normally provide decent research, IMO.