As you had in your previous post here (http://hotcopper.com.au/posts/16961489/single) DSH went and obtained $30m from MQG. It appears they did this without telling NAB and HSBC. I'd suggest because they had maxed out the NAB/HSBC facility by that time.
I wouldn't blame the banks and say they moved early - they are remunerated with a fixed return and the huge write-off they face will wipe out everything they earned on the loans and then some (effectively burning their own shareholder's money). They were probably also concerned their indebtedness would get worse as DSH starting paying people lower down the creditor chain to them in Jan-16 following the sales and decided they had to move before their position got worse.
At the end of the day, management is to blame.
DSH Price at posting:
35.5¢ Sentiment: None Disclosure: Not Held
