Positives:
- SGH owes bank a sh*t load of money. It's the banks' problem now.
- Might be able to do a CR and survive
Negatives:
- Although little tangible assets, it does not mean the banks will not call the administrators in. Banks will want to minimise losses. The business can be sold back to the partners. See how the listed accounting firms went under. Many of the practices within the company were sold back to partners, although for big losses. In all those cases, shareholders got nothing.
- Still bleeding cash.
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- SGH
- iron clad guarantee, AG will get the bank to refinance
iron clad guarantee, AG will get the bank to refinance, page-18
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