they had to re-negotiate the terms with GE as they were in breach of their financial ratios, unsure how that plays out, but my limited experience would be no negotiation, no more WDS.... Given demob from Santos, no new works signed, hence limited revenue, if I were lending, I'd tend to say no more WDS. Mastermind, might be taking a punt on the mining business of WDS, at a rock bottom price. I had said before WDS should demerger the mining / gas operations.
The flip side is, if all projects are projecting a loss, wouldn't it be better to close the door and wind up?
Ann: EDCM Agrees to Amend Contract, page-15
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