gutsy move by the board, page-2

Ausgrid must be watching this with more than a little interest.

How much would Ausgrid benefit from a Redbank default and the voiding of their long term supply contracts? ($140 million+ according to the current and non-current derivative assets on the balance sheet? May be Ausgrid should buy Redbank for a portion of the derivative value and trigger the default themselves. LOL)

I think that the banks are sh*tting themselves at the moment. The board have relatively little to lose and have just cracked the whip.