Financial Times FT.com

Cattles close to securing creditor ‘standstill’

By Anousha Sakoui and Jane Croft

Published: June 21 2009 17:55 | Last updated: June 21 2009 17:55

Cattles, which lends to people with patchy credit histories, is in the final throes of convincing bondholders and more senior creditors to agree to a “standstill” agreement that will allow it to fight for survival.

Two deadlines loom for the lender, which had its shares suspended in April and is completing an internal inquiry into its impairment provisioning policies.

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