Very clear admin is not in banks interests as they will realise...

Very clear admin is not in banks interests as they will realise zip as employees rank higher than them in getting any money that can be raised in this scenario which in receivership would be next to bugger all given their asset is the people who walk out the door every night. But if banks and SGH don't do a deal soon the damage to the business and revenues will be so great that it might soon be beyond repair where at the moment if they provide a more stable capital structure it is very repairable....as remember if Oz operations had not declined and stayed steady this would have been cash flow positive.

I personally don't think they can wait until 26 May to finalise recapitalisation but must finalise this within weeks to salvage and remove the uncertainty and impact it will be having on their business operations.