Very much agreed - especially in this sort of area. Efficient management is the key to profits and the bank knows this.
Profit covenants do get breached, but these sort of disputes make it seem as if the businesses will never get back on track.
I've seen mild partnership disputes in Pharmacies result in the bank getting very nervous when geared at 1/3 of MC.
Ann: Requisition under section 249D, page-8
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