Ann: Undertaking to ASX , page-16

"Banks aren't in the business of doing a due diligence to establish whether they can make a better profit on realization of a distressed asset.... "

your statement is correct I guess, but doesn't apply in Marion's situation because the bank was not making a 'profit'

i've done enough work with bank appointed receivers and administrators to know how they operate - if a $5 million loan is secured against a property that is supposedly worth $7 million, you are correct in that they will take any reasonable offer over $5 million (to recover their capital)

however, if the property is only worth $4 million, they aren't going to accept a $500,000 million offer and walk away with a $4.5 million loss when a little more effort would result in only a $1 million loss.. banks aren't in the business of realising losses so that shareholders in a company (who are last in the line of entitlements) can make a profit - they're not charities

if there were any other buyers willing to stump up cash for the projects, the banks would have taken control and sold them - the fact that there hasn't been, over a considerably lengthy period of time, speaks volumes.. no one else wants the projects, so its left to little old Marion to try and work them and its shareholders to tip in more cash to continue paying salaries and consultants fees