An update it may be but if it is anything like all the previous ones going back for 2 years it must be taken with a hefty pinch of salt. In spite of previous updates that the development is to all intents and purposes finished it would appear that the receivers are getting into their stride to advise that there are a wealth of things need fixing. The alternative is that the building will have to be sold for peanuts. FS will of course say that they have been led up the garden path by the borrower but an alternative view is that they allowed themselves to be misled and were complacent to such a state of affairs. The FS brand will remain tainted for many a day by loans such as this one.