GREY:ROAOF - Post by User
Comment by
edsylon Jan 07, 2009 9:44pm
742 Views
Post# 15690088
RE: RBS
RE: RBSCould the RBS have said that they could not supply further credit toOIL under current economic conditions and that ONSL is becominginsolvent so file for administration, get all contracts renegotiatedand settled and then we can talk? Is this a possibility from what ishappening now?
That is the WHOLE point of the Admin process. To work out as much as possible a mutually agreeable arrangement that satisfies 75% of the creditors.
It is of no benefit to the other creditors other than RBS to have the company broken up if flexible arrangements can be made.
Regards
Ed