Who the hell is buying ??, page-182

Yep!

But let's look at this from a different angle.

Take the current lenders out of the picture. (Why they'd want to pull their pin isn't entirely clear to me but, let's say they do).

Anyway, let's say the banks spit the dummy, cut their losses and walk with nothing.

SGH has staff, systems and experience - and a brand name. It has a mostly-profitable business in Australia built up over the last 80 years.

It has a new market it hasn't had a chance to exploit yet which is 4x the size of the one it had.

It has $1 billion cash-flow - even now.

What lending business in it's right mind would want to walk from that without exploring every possibility of being able to recover it's own losses?

Even if it does, I'm a 'thinking there's a whole bunch of other lenders will be prepared to consider replacing the leaving lenders.

And they won't have the burden of debt-owing.

So ... maybe there's life in this dog yet .

It's been here before - let's see if it's learned anything from it's history.