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Wednesday, September 23, 2009 10:03:16 PM
What choice did the lenders have? Management consultant/ICT companies have very little in the way of hard assetts which could be used to secure loans. The only chance they had of retrieving their principal was to cut some slack to SPHE and hope for an improvement in the future.
It's better than nothing, which is very much what they could have been looking at if they hadn't cut the .05 deal
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