http://www.lawyersweekly.com.au/news/20719-lenders-to-back-slater-and-gordon-expert-predicts
There is a lot of WIP proceeds to collect. Surely the banks need to leave the firm undamaged (as far as possible) so that it can collect these substantial funds over time.
Without the debt, it can recover.
I am hoping it will work out like Helphire (now Redde) did in the U.K. a few years back.
20 fold share price improvement since Redde issued new shares to pay its creditors. Redde also had a rights issue at the same time. I have kept some cash back, just in case that happens here.
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