anz sunk them several months after the initial problems were uncovered, after they had korda mentha go in and have a good look and realise problems were a lot lot worse.
that took 6 months and they did at least try to support them. fge we not even making postive ebitda and were a basket case - debt levels were a lot higher than many thought due to bank guarantee position.
ttn is a totally different case - issues are not related to a massive hole in a fixed priced contract that needs to be funded - ttn are just going to make less money and most likely can the dividend for the next year. disappointing but not life threatening.
AUG Price at posting:
49.0¢ Sentiment: Hold Disclosure: Held
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