they were secured creditors, they obivously made a call that the amount received, after haircut, was more than (or at least as much as) what they could have got from taking the assets and arranging a sale themselves
Marion had no stick, it was bent over a table at the time
the new creditors don't seem so 'supportive' now as well (as claimed by many on this thread) - not agreeing to waive a breach of covenants is fairly significant (when their breach, in all honesty, would have been likely when put in place)
MAE Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held
