According to the Fin Review today there are reports coming out of Blue Sky that they will commission an independent valuation of all of their assets to resolve this situation (likely PWC). They have to do this to retain any sense of credibility in my view. No doubt PWC would be pretty stringent in doing so and it would lead to write downs of some order but restoring confidence will have a much bigger overall impact than a few accounts receivable and AUM adjustments. If this is confirmed by BLA today it should put a rocket under the price...(might explain the strangely strong close yesterday also).
BLA Price at posting:
$5.37 Sentiment: Buy Disclosure: Held
