Andronikou has still not responded to the CVA variation point. It seems he genuinely believes he has the power to vary the payment terms, but no one else is able to understand how.
I would like to see this issue resolved ASAP. If the Council were to publicly state that they will not contemplate a variation of the CVA terms, it will force Andronikou to justify himself. Until then, we will have an impasse along the same lines as the loans vs shares issue.
I would lay money that there will be a winding-up order within days of the payment not being made on time.
That would be the end of the impasse.
