I am back. So is SGH, page-733

...................."I think also that the Watchstone announcement was very telling"

Do you, now? Pray tell why. WTG said exactly what they've said all along (and one would probably expect them to in the circumstances) which is that they will totally and utterly reject any claim, should one actually be served. They didn't have any indication a claim was coming when it arrived (wth WTG not having had the opportunity to engage with the barrister and with SGH in a desperate situation and no doubt looking for 'good news' items to boost the SP). What else has a pile of its underutilised lawyers got to do except make up reasons why what's happened is someone else's fault and has nothing to do with crass management? My guess is that SGH is looking for a settlement that isn't going to come and even if it were to, it would be too late for present shareholders. It would be a start if SGH actually notified WTG what the claim/s is/are about.

It doesn't surprise me in the least that you fail to get this, SWC. You fail to get most things. To me, you seem to be an out and out ramper - never seeing any downside in what is a dire set of circumstances, with shareholders at the mercy of a bunch of money-grabbing leeches who put nothing ahead of making every last penny out of every deal they get involved in, regardless of the fairness or otherwise of the situation.

The fact of the matter is that the senior lenders can take whatever route they want and more than get their money back. The last thing they'll want imv is to find themselves in bed with thousands of disgruntled small shareholders from SGH's failed past, so my bet is they make an offer to buy out existing holders for whatever they think the risked upside is of owning a going concern (which seems to be their present preference) vs what they get from a liquidation or whatever.

JMO fwiw. I'm interested only from an academic point of view, having been invested in a similar situation before. I also don't like seeing people misled by people who don't really know what they're talking about - and that's being tres polite.