Examinership value of security

I am confused with recent media reporting of a high profile case which suggested that the relative law allows a company"s loan to be written down to the value of the security. It now appears that thise lender had agreed to this action and in effect no new principles had been declared by the court

This might help. Its the case that has banks shaking in their boots....

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Has SBP comment been overtaken by article in Indo 13/1/09 which says that ACC say this has no adverse implications for banks as ACC agreed to the write down. Apologies i dont know how to how to highlight Indo article

dewdrop said:

Has SBP comment been overtaken by article in Indo 13/1/09 which says that ACC say this has no adverse implications for banks as ACC agreed to the write down. Apologies i dont know how to how to highlight Indo article

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Not sure to be honest but my understanding is that there is legal thought that banks could be forced to write down the value of the assets even if they don't agree. ACC are probably right that it will take a test cast to set the precedent.