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re David's post 3.00pm.

There are many definitions of insolvency.

Trading whilst insolvent isn't necessarily wrongful if the Directors reasonably belief that to do so will improve the position of the creditors.

I suspect S&G will have a turnaround team advising them on their decisions thus protecting them from accusations of wrongfully trading.

The decision to hold them personally liable would be the liquidators as it would be their application.

I suspect they will avoid liability through a negotiated pre-pack and there will be no intervention and no cost to the compensation fund.

I suspect Tomorrow is the first stage of turnaround redundancies and writing off the Quindell WIP.

No smell of an administration or pre pack at this stage.