seamisty
before anyone can determine if the JH deal was the correct deal there needs to be a little more information which those inside the castle including JH is aware of and should be telling PIF holders.
It is stated that the bank facilty has now come down to $100 million which is from original position some 80 million debt repaid.
Key question is were these debts paid down in the ordinary course of business. ie did they get 100 cents in the dollar on the debt or were any assets (loans made) sold or paid out at a discount.
If loans were paid in full then the managers of the trust are doing a good job. If they have been forced to take x cents in the dollar then this is horrifying as it amplifies the losses faced by PIF holders.
If this is the case then new regime should be hung with the old as there was at least one better solution in front of them.
Whatever the case they should come clean with investors and not hide behind the "stragic review" which is a total load of c--p.
OCV
octaviar limited
