This article I do not think is necessarily true.OCV post Stella...

This article I do not think is necessarily true.

OCV post Stella has cash at bank

It has constructed a moritorium for NZ debt

LLA has constructed a restructure, not great for PIF not great for OCV but gets rid of NAB from OCV life.

They have cash to get rid of challenger if required leaving listed notes only to deal with on an as is now basis

They still have things to sell like Gold Cooast Property, Childcare properties to get more cash.

Final piece of the jigsaw puzzle is loans made by PIF and if NZ debt obligations can be reduced.

Theres hope but in my view a global workout of OCV/PIF/LLA and even GPM would of worked better/

Its not all over and Stella IMO does not need to be sold.