arl broke?, page-8

Spitpin

WC made a statement in court to a judge to the effect that the fund could be wound up with a return of about 45 cents over five years.
My memory is not the best these days , but I am fairly sure those are the correct figures.
I do have the court transcripts somewhere on old backup hard drives . This was, i believe, partly the reason why the PIFI initiated court action taken by ASIC failed. A return of 45cents would have appeared reasonable proposition at that time as opposed to immediate liquidation at 14 cents.Now what would the judge have ruled if he had any idea investors were going to get below 14 cents over five years or more .?

I am intrigued as to what Special leave on "limited grounds"
actually means in legal- speak .Anyway now we have to wait for both the MFS and WC High Court appeals on legalise technical grounds.