The XL story may not be as straight-forward as it seems - Radio 5Live have been running stories that in the last 2 months employees were phoning around Customers witrh bookings asking them to take further services for cash e.g. priority boarding and check-in, so XL management knew cash was dwindling.
Now it appears Financial Markets knew and people were betting on a bankruptcy outcome. If the Icelandic stock exchange forced a statement out of XL's Loan Guarantors, why couldn't some sort of action be taken here in the UK ?
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