Why would a bank like ING contest the validity? Because they are a typical bank who doesnt want to have to pay out the large amount due from the bond. So they will look for every angle not to pay imo. As for the timeline. Many oil companies have extended timelines during the start up phase. ERHE Energy is a perfect example. But once the start up phase passes things begin to move quickly. ParaFin had to get their ducks in a row first.