In principle I agree. IF Shine get the administration and IF...

In principle I agree. IF Shine get the administration and IF they get half the interest, then they make no loss or profit.

However, chances of Shine being awarded the administration in a field of 20 where Shine has the highest tender is nil.

And as for the interest, dlight is right, it is ‘still in doubt’. And what I read in the media about the judge’s comments from yesterday is that there is no chance Shine get all the interest, and there is some chance Shine get some of the interest. Terrible outcome for Shine as every dollar they do not recover from the women is a dollar they have to find in their own bank account.

The judgment will be before the full year report. If the judge even awards Shine half the interest, then that will be a $16m hit to the books (which already undoubtedly look shaky).

And do not forget, of the $32m Shine are asking for costs, they have already been paid $22.6m (15.6M for Shine’s fees & 7m for disbursements) as an interim payment on 5 April. That will be included in the full year report, with only 10m more to come for costs and disbursements at best. So it is likely that in FY24, any more money which comes for cost will not come close to offset the loss they are likely to incur with the interest.