I keep coming back to the same question. If they aren't profitable now, how will they be profitable post-COVID19 with an extra $1.4b in debt? They can't, and they won't. Fold the company now so that workers get what they are entitled to, and hopefully the administrators can save something.
I don't follow the argument of "they were going to be profitable in x years". Yeah! Just like the governments budget will be back in surplus in x years! Look how well that always turns out.
Scurrah is clinging at straws here, and it's his job so fair enough. But the Australian tax payer shouldn't be bailing out a foreign (government) owned company when the major (foreign) shareholders are coming up with nothing.