Ann: 2016 Half-Year Results Presentation-BLY.AX, page-5

The real question is whether Centerbridge will keep supporting them. Centerbridge's business is based around doing exactly what the BLY play is, buying distressed assets and turning them around. If the mining cycle turns once more like it has always done before, BLY should eventually return to profitability and as the major player in drilling services be worth in the billions. However this significant loss period I am sure has lasted longer that Centerbridge expected (evidenced by CEO turnovers) and are they prepared to keep going.

As I understand it, Centerbridge can afford it but everyone has a stop loss bail out point.