I don't think the bankers bailed them, I just think they are hoping, As V_H said in another post, instead of losses now, the bankers likely hope that things will improve and then they can likely CR.
Indeed, the bankers, if they were the pressure cause for the sale of the supply bases, actually may have shafted MRM and may have by doing so shafted themselves.
We need to know now that even if oil goes back and if works start up again, that the work will no longer go to MRM as often as it did.
MRM no longer has a competitive advantage post the supply base sale. The likes of good customers of MRM such as Woodside may as well shop widely now and given even consideration to overseas suppliers such as Farstad and Tidewater who will be hunting deeply in Aussie waters now.
MRM Price at posting:
23.0¢ Sentiment: None Disclosure: Not Held