"...8.7 At the same time, SouthGold issued the note holders with a security guarantee for the debentures. The intervening parties, Credit Suisse AG and Standard Chartered Bank are creditors of South Gold to the tune of some US$ 80 million plus a further US$ 25 million as post commencement financing...." http://www.saflii.org/za/cases/ZAGPJHC/2013/33.html Why was post commencement financing provided if Credit Suisse and Standard Bank have nothing to gain from SouthGold or the Burnstone Gold Mine?
Why would any bank throw away $25 million to gain nothing?
BRP: Great Basin Gold's Southgold Exploration/Burnstone Mine V-Squared Business Rescue Services (Pty) Ltd September 2012 – July 2014 (1 year 11 months)Johannesburg Area, South Africa, cross border work USA, Canada, UK, Switzerland Business Rescue successful. Up to 2000 jobs saved. Total deal value approx R2.75 bil all in. https://za.linkedin.com/pub/peter-van-den-steen/4/344/639
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