Also said this in march, sounds familiar.. SGH steps from here...

Also said this in march, sounds familiar..

1. SGH steps from here IMO...
   
   1. Enter a scheme of arrangement with creditors - debt for equity
   2. Go into administration.
   3. Come out of administration shortly after as new ownership structure
   4. Now old company is more or less a sell of nothing , class actions have little to do, current lenders leave some debt in the old company just in case.
   5.  Any funds received via Watchstone used to cover the class action in old entity.
   
   6. Lenders hold 95% of shares, current holders take 5% (if lucky).
   
   
   All done, nicely washed, start again.
   5
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   SGH (ASX)
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