Permian Investment Partners, which owns 6.5% of Healthcare Locums (HCL), is calling on two Australian banks to support its plans to save the troubled healthcare recruiter.

In a letter issued via Marketwire in New York, Cara Goldenberg, a partner at Permian, calls on the chief executives of National Australia Bank and Commonwealth Bank of Australia to support its “go-forward plan to stabilise and grow the business”.

According to a Permian spokesperson, the two banks are owed around £100m by HCL, money they lent the recruiter to help finance its acquisition of HCA in Australia in December 2010.

Permian’s plans include replacing two of HCL’s non-executive directors (NEDs), with six new NEDs. Goldenberg claims they lack the support of key shareholders.

Shares in HCL remain suspended following an investigation into “serious accounting irregularities” that led to the sacking of founder Kate Bleasdale. In July, HCL confirmed that Bleasdale had lodged a claim for unfair dismissal and sex discrimination against the company. HCL’s accounts for 2010 have yet to be finalised.

The Permian spokesman told Recruiter there were a number of parties interested in buying the debt from the Australian banks. However, he said the key issue was HCL’s repayment terms.

“Permian would like to see a ‘vanilla refinancing’ deal, which would offer HCL a longer repayment period.” This would allow the company to continue as a going concern, he explained.

In contrast, in her letter, Goldenberg said that the banks “prefer to work with vulture funds who can offer a few more pennies on the dollar, but will subsequently subject the business to a radical reorganisation/pre-packaged bankruptcy, which will undoubtedly destroy the organisation”.

HCL and National Australia Bank refused to comment. As Recruiter went to press, Commonwealth Bank had not responded to Recruiter’s request for comment.