$200 mil is not enough to fill the hole.
There are intercompany loans and guarantees which should all be counted as debt.
What is the figure if you count all the guarantees?
None of the money raised from sales would have gone to MFS parent but rather to the companies that had borrowed the funds to buy the asset in the first place.
If the Blue Sky Trust is any indicator of the value increase over the last two years then most of them would be negative not generating enough cash to cover off the borrowings.
Who covers the related borrowings from PIF which are currently being written off by Living & Leisure, etc?
Where is the money to pay Challenger - not due until 2012 - going to come from?
Who has guaranteed the Investments Notes and where will the money come from to pay that? What assets have been purchased with that fund and will it cover off the debt?
Maybe BB can ask his mate Chris Scott to give him the answers when he enters the inner sanctum.
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