igk, I have no truck with you and if in your professional opinion rates were offered that appeared to be seriously out of line, then maybe that will turn out to be significant in this particular case.
I've got no interest in defending CCE per se, but until we know something concrete we're all making assumptions. My assumptions may be a little different to the general consensus, and whilst I wouldn't dream of claiming expert status, this subject is as close as I could ever hope to get to that distinction. This is what I did for 28 years - forex, forwards, derivatives, corporate banking, insolvencies, turnarounds, yadda, yadda, yadda. For what it's worth, it does appear that I got it right when I suggested that "as we speak, it seems unlikely that this company is in receivership or administration." For the avoidance of doubt, I'll also reiterate that it may only be a matter of time.