Timbercorp was around 14 years. Though they were a different...

Timbercorp was around 14 years. Though they were a different business I can see a lot of similarities in circumstances.

TIM was once a multi-billion dollar company. It took just 3 months to go from 90c to 10c. A couple of months later they called in administrators. TIM's NTA ratio was high.
The most striking similarity is in TIM's last independant audit; the qualification "...Accordingly there is significant uncertainty as to whether the company and the consolidated entity will continue as a going concern and, therefore, whether it will realise its assets and extinguish its liabilities in the normal course of business and at the amounts stated in the financial report."