This thread is clearly getting too long. We're all going barking mad!
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South Canterbury Finance Doubts it will meet NBDT Requirements
http://www.depositrates.co.nz/news/9...uirements.html
Looks like SCF will need more special treatment on an on-going basis in the future, if they have one...
Disclosure of Interest. I have no financial interest in the above securities whatsoever and for that matter I'm very bearish on the market as a whole.
NZ Credit Securities are offering 20cents a share for $6m shares. They must have more confidence than
most on this thread ? (have a few)
Westerly
Care to copy and paste their offer Westerly so we can have a look at the long list of terms and conditions.....
There we go, directors providing assumptions (presumptions) that they will raise capital, sell assets, get extensions, extensions, bail outs and concessions. How can those directors reasonably believe that the company will be able to perform its obligations when required to do so?