They have enough cash to weather the short term storm, and in all likelihood the business will still trade profitably. The trail book even on your aggressive 30% haircut scenario is still $40-50m.
There is also, of course, a much more bullish scenario that could emerge if the Funeral Insurance ends up on solid ground and St Andrews comes aboard. It could almost be a reverse takeover, especially if St Andrews have decent senior management. But that's to be seen.
FIG Price at posting:
9.5¢ Sentiment: Buy Disclosure: Held
