administrators are needed, page-6

Says who? You?

I bet the banks dont see it like that. They paid $84m for that asset.

Ands if the government tighten the screws on Fee Help and make getting a job in the industry a requirement for part payment release (as was a recommendation put forward as a way of stemming the rorts), do you think this type of education provider is going to benefit. I doubt it. How many people do the Tui Na Massage course or the Acupuncture degree and end up working as a waitress (ie, not in their field of study). I would say plenty.

A fire sale of this asset, as may be forced by the banks, as well as sales of the other assets, may just get the banks their money back (in the acquisition notice, the debt facility was increased to $120m - I have no idea how much is drawn). Do you actually think the banks care whether there is something left for the shareholder? Ummm, no.

ps: in the acquisition notice (when Endevour was purchased) it said that no government funding was provided to this training centre. Well, this has now changed looking at the Endevour website. VET just couldnt get enough of that government gravy. That, IMO, will be their downfall.