Buying SGH, page-58

About two years ago, VET, a listed educational organisation went into liquidation. Guess what, it had no hard assets what so ever but the creditors decided to pull the plug anyway and take that measly 300k (or 30k? can't remember) proceeds from liquidation.

This is very unlikely to happen, because the announcement made on 28th Dec clearly stated 'the maturity of the facilities remains unchanged'. If the banks are willing to extend the term of the loan, they would have done that months ago.

But I do agree that if it were to happen, Krispy's rocket science could finally be right. But the chance of this happening is v v low. Again it is only worth a gamble considering the sheer amount of risks, just gamble responsibly.