Yep it is mentioned there. I missed that. Howwever it doesn’t...

Yep it is mentioned there. I missed that. Howwever it doesn’t automatically introduce some illegal action in this case. I guess there aren’t too many sources around to choose from and get competitive rates as well. So as company what do you do?
From what I‘ve been told, certain people have split away from Magna because of what was going on there but are still in the market to supply such urgently needed funds. So that’s it seems where the reference comes from. Call them loansharks if you like, but as we found out there are situations when they are needed.
As previously mentioned though, the important bit is to find an alternative longer term finance source within the 90 day standstill period at more competitive rates. Personally I look at the current deal like a bridging loan - an expensive solution for a short term need!