Any h2 cash they generate will be used to pay redundancies or the bank... along with their entire pipeline of work... I can't see much new business coming in.
This is a labor aligned law firm... I think you will be stunned by some of the redundancy payouts to management. Who do you think their employee contracts will favor? Shareholder or employee?
None of this will be provisioned for... hell, they were still hiring last week and I think will come out in the wash in the next few weeks.
The employees will get a payout, as with the bank... and the shareholders will get a big fat donut.
SGH Price at posting:
31.5¢ Sentiment: Sell Disclosure: Not Held
