Article: class action suit filed against Shine, page-56

I don't see that an accounting standard change effects the value of a business as represented by its cash flows over many years at all. Perhaps the market would respond badly but neither that or the impairment are certain.
I strongly disagree with the idea that you should value any company on a worst case scenario like this. When the shareprice is low all these ideas come out to justify it but You need to check plausibility.
I prefer to work to a base case of the likely outcomes and apply a margin of safety against the unanticipated developments.
Thanks for the link Tim, here's another (I hold both Tower insurance and SHJ -$1 each way).
http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11915606