Just to clarify I don't think the banks *caused* all this mess, just had a hand in it - certainly management botched up by not acting in a timely manner (leaving things to the last minute). Remember banks a few days before debt was due to roll over suddenly announced they wouldn't do it, just before the trading halt. Banks knew this would cause all kinds of trauma; it's irresponsible of them to announce this in the eleventh hour. If they had announced in advance, it shouldn't have been hard to do a capital raising.
OZL Price at posting:
$4.95 Sentiment: None Disclosure: Held