From the Scotsman
On 29 September, a CAA risk analyst, Paul Wilson, told Globespan: "In the light of the current and forecast liquidity, the CAA is of the opinion that Globespan is unable to meet its obligations under the relevant legislation unless there is a significant investment in the near future.
"To date we have refrained from taking regulatory action as we have taken comfort that the company is actively engaged in procuring an investment with the aim of securing the company's long-term future. However, in order to continue this stance the CAA needs evidence from the investor that the fundraising process will be completed with a short timeframe."