The announcement said,
"Forest Enterprises Australia Limited (ASX: FEA) advises that it has been informed by representatives of the Tasmanian Government that its request for financial support has not been approved. ...
"FEAs Board and Management have expressed their appreciation for the prompt manner in which both the Department of Economic Development and Tasmanian Development and Resources considered the request to provide a loan to the Company."
It seems to me that the govnt (incl both departments) refused the loan request in a prompt manner!
Sounds like a joke.
It also said, "As a result of this development, the Company has resolved to provide its financiers with a request (supported by financial projections) with a view to accessing funding for the purposes of pursuing its restructure."
This may imply that FEA is asking for more money from its banks for its "restructure".
The word "restructure" is reminiscent to GTP's "project transform" in its final days, isn't it?
The announcement said,"Forest Enterprises Australia Limited...
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