galba
anz sunk them several months after the initial problems were uncovered, after they had korda mentha go in and have a good look and realise problems were a lot lot worse.
that took 6 months and they did at least try to support them. fge we not even making postive ebitda and were a basket case - debt levels were a lot higher than many thought due to bank guarantee position.
ttn is a totally different case - issues are not related to a massive hole in a fixed priced contract that needs to be funded - ttn are just going to make less money and most likely can the dividend for the next year. disappointing but not life threatening.
EBIT will be lower than there stated 10 - 12m, page-49
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