arl & gobbo & simon, page-12

Who has lost millions?

ARL continues in business courtesy of the banks who earn 9.5% interest on their loans. The banks are probably well secured by way of mortgages over ARL's assets and so I don't think the financiers have a real problem. I also doubt there are any substantial institution type entities ( Kerry Stokes excepted ) with big exposures remaining in ARL.

The only people who have lost millions are the shareholders.