breach of debt covenants - overdone, page-7

FMG was in breach of covenants not long ago. Their brilliant solution was to find a new lender and write in friendly covenants. Not sure if DML can achieve the same solution.

One can speculate that the banks will appoint an administrator and he/she will sell the main asset pay the bank and leave shareholders with what is left over.

Now the banks would not do that, would they?