My recollection of it was that a number of parties were involved in the discussion-the Higgs Trust being one? Could be wrong but as you say some involvement from ACL and it's shareholders would have been required. I thought this was the case at the time as it proved to be the catalyst to the council's decision to 'trump' the offer and refinance the debt itself. I imagine the discussion may have been instigated by YB as it became increasingly worried about the prospect of full repayment? Only an educated (or ill educated) guess mind!!
Instigated by the YB as a result of the ACL director switching over ?? damn it what's his name ,David??