Banking Syndicate Approval - What has changed since?, page-7

I do agree with that , but that reasons will not change in 2 years time. If SGH was a lemon in April 2016 and did not have a viable restructure plan to turn around cash flow , all the reasons you stated will still exist when the loans are due. Remember the banking syndicate , unfairly imo , are the only entity , besides all the paid consultants , that have seen the restructure plan . They must have liked what they saw , as the loans were fully drawn down to term loans , and semi-annual debt amortisation was to begin from June 2017. Why kick the can down the road for 2 years if they can see no cash flow improvement. Banks tend to make decisions only for themselves.