Mel, I think levers will be pulled back and forth like Clapham...

Mel, I think levers will be pulled back and forth like Clapham Junction on a busy Monday morning.

I think you get it very well but for those who might want to question my figures.

My figures are not intended to be an attempt at precision, I'm 100% certain the future will not pan out even close to what I have scribbled down. What I'm attempting to portray is, assuming the business is not dead, then debt is easily manageable without shareholder destroying financial engineering, even considering a low case scenario (as my figures are).

Instinct tells me we will have a best case scenario but I'm not putting figures to that possibility. What do I mean by 'best case scenario'? The business has stabilised, efficiencies taking effect and improving, NIHL will deliver the $300m cash, and the nice big bow wrapped around the box is a future new line of business we don't know of yet.

I'm confident the network and relationships built up through SGS line of business will lend themselves to more lucrative non-lawyer but complementary business consistent with its core root as a law firm. Intermediary services between insurers and consumers can and does involve more than suing people. SGS can position itself to provide value-add for insurers and other business wishing to reduce its costs as it can add value for consumers looking for help navigating a complicated commerce environment.

Doc (enjoying Earl Grey and cucumber sandwiches with Lord Howard and Sir Adrian Monatgue)