Agree an interesting announcement but very light on details....

Agree an interesting announcement but very light on details.

Doubt they have agreed to a higher interest rate or penalties, as didn't mention terms of loan have changed.

Would say from CBA perspective they can either pursue the full 13 million, EVZ defaults and they get nothing, or write it down to a manegable level and allow EVZ to trade through it which us what they have done.

All in all would say encouraging from EVZ perspective, effectively a 4 million reduction in liabilities. Does indicate to me they are still struggling to recover and 1st half results may still be small loss, but maybe some light at the end of the tunnel - which hopefully isn't a train!