Speculating PSN did not have cash at hand to pay Jan13 dividend and for that reason steps to improve account receivables kicked in. I agree involving lenders is never a good sign and litigations will make matter worse for PSN. However severe the cash crunch PSN has done great growth in US market and hopefully they will be able to tide over cash crunch by pausing dividends. Whatever one may say it is not easy to replicate success like PSN for that matter management is key and these guys had being successful in past and surely they will work their way through the crisis !!Mgmt on vacation is a joke they need to get back with a statement next week for damage control. PSN is not done and will bounce back....balance sheet is very strong (125m AR are not written off just yet -;) )>