Seeing the debt and the assets in writing is very concerning.
The question for me is how much do those assets produce in the way of cashflow, or profit.
They need to produce at least 10M to keep up with a nominal interest rate of 5% on the 200 M, and then more to cover overheads and expenses, and then more again to repay creditors. If the interest rates are higher than that, (and they probably are) then the whole problem escalates.
I can see Terry hoping to get the 2 years to sell, and maybe the market will rise in his favour.
A very tight situation, good luck to him in that
Serious concerns about the Nix viability though
Seeing the debt and the assets in writing is very concerning.
The question for me is how much do those assets produce in the way of cashflow, or profit.
They need to produce at least 10M to keep up with a nominal interest rate of 5% on the 200 M, and then more to cover overheads and expenses, and then more again to repay creditors. If the interest rates are higher than that, (and they probably are) then the whole problem escalates.
I can see Terry hoping to get the 2 years to sell, and maybe the market will rise in his favour.
A very tight situation, good luck to him in that
Serious concerns about the Nix viability though