timber1956I can understand that, but why would Merrill want to...

timber1956

I can understand that, but why would Merrill want to take on such an insignificant amount of potentially distressed debt of less than $8m? Also it's in A$ and the A$ is more than likely to fall against the US$ which makes it worse!

Could the Coastal directors be behind this?

I suppose its an interesting turn of events. This now opens the door for the other lenders to exit the show.

Have you any idea what they mean by the transfer being by novation?