Can someone please tell me what’s going on?, page-54

I don't think there is any conspiracy here.

From what I understood, if the LLL shares were transferred to holders, that would be a tax event, which the holders would need to pay tax on, and then if we were to receive a dividend payment from LLL from Tranche 2, we'd be pay tax again on the dividend amount for the shares we received from FFX, therefore being taxed twice. Seems straight forward to me, though not what we wanted to hear in as far as it's going to take longer to get money/shares back.