Can SGH be saved, page-54

First AG should go to the banks, and ask for money for a new manor house in the English countryside (need somewhere quiet to think) and a new Rolls. Claude De Bernales rule of confidence. When you owe $800m what is another few million on the old bank card.
The Banks need to acknowledge they have a problem. They are going to have to write off $800m plus, so they might as well convert it into a convertible note, with an option kicker. At least they will have some chance of getting their money back.
Senior staff should also take some of their remuneration in equity, say maximum $100,000 cash, the rest in shares with 2/3 held in escrow for 3 years. The another 1/3 they can sell to pay the tax. A rights issue to provide working capital, and bob's your uncle