@ryrie12 , check out this commentary on the first creditors'...

@ryrie12 , check out this commentary on the first creditors' meeting:

"Onterran has stated their balance sheet is not strong enough to meeting the full claim of creditors under the cross guarantee and if that was pursued, Onterran would appoint administrators themselves and a likely have the appointment of Receiver & Managers on behalf of the Banks."

Now, the 2015 and 2016 ARs refer to a cross guarantee between OTR and McGrath, but there's no mention of Bloomer. And there's no mention of a cross guarantee in any of the announcements released when the Bloomer deal was done.

So seemingly there's been either a major disclosure failure, or OTR was 'mistaken' in saying on 9 May that there's a cross guarantee that could kill the whole company. Each option would seem equally unattractive. For holders however, the former option is to be greatly preferred.