Cant understand how things have got this bad. What a nightmare....

Cant understand how things have got this bad. What a nightmare. Looks really desperate to me. They have had a month to get things organised and put a solid case together with the banks. The matter cant surely still be in the balance. Banks want out - that is clear. To me its a case of the banks allowing the refinancing to allow OZL time to work through asset sales etc. Its clearly not a case of this being prime lending any more. We all want an announcement & resumption of trading - but we may in fact feel worse when trading commences. I think OZL will be crucified once it comes back on line. It is at best a spec play now. Market will take a long time to get over this debacle. I dont really want to get involved in the class action but I have to face it - the directors have been misleading and they have cost me lots of money. If the announcement is poor (ie need to sell PH)- I will sell and join the class action queue.