ouch..any thoughts on impact on nlg?, page-6

Gday Lordlucas

The points/comments I see that have eventuated
- Payment of $15 million debt to Hedley for $1.5million positive for NLG but will the receivers of Hedley be able to claw this back from NLG
- The bank NAB that is owed by NLG is actually worried that if they call in NLG debt this default will allow the lease to fall back to HLG.Therefore the bank has not called in NLG because if they do they lose the full $185 million.They are willing to let NLG trade at losses to a certain extent and let them trade out of it.
- What happens if HLG goes into receivorship will this affect NLG because NLG lease premises from HLG.
- Could be a domino affect of HLG on NLG if banks do deals.
- Positive is that Laundy is involved at NLG not just Hedley.