"There is nothing in the company update that would suggest that...

"There is nothing in the company update that would suggest that the banks are not going to cooperate in rebuilding this business."

And there was nothing in the update that said they WERE going to cooperate either. That update nothing more than hope as far as I could see.

They are at the mercy of their banks. Unless they can get a standstill on the $400M owing to BNB, no-one will front up to recapitalise the company. Rather they will sell off assets piecemeal, bit by bit.