In addition to this, I try to think like the banks. If I had...

In addition to this, I try to think like the banks. If I had lent them the money and there was a issue with their reporting against reality, I would definitely have someone look over the books. Would I call them on their debt? No way, the banks would get something between nothing and not very much so what would the point be? I think the banking syndicate are involved to firstly, look at the numbers, secondly deliberate if they should be in column a or column b and thirdly, send the company in that direction of reporting/accounting so they can get a better picture of how the company is running and in so doing, give the company a fighting chance to pay the debt back. Any other action, would seem pointless.

I believe this sentiment has been conveyed to management and that is why they are remaining calm and somewhat confident. Why do people through SGH in the DSH basket? Why not the Qantas basket? Nothing is impossible without reform. There is a great deal of fear relating to this stock which IMHO is unfounded. All the fear peddling is unwarranted until we know something that has some substance.