I have a very funny feeling that, as per the various FRL and Alliance SuperBS deals, there was no money.
There's always an excuse why the money never comes:
Drop in IR price.
Nil funds in the bank.
Suspended.
Receiver appointed.
While they have no control over the first, the rest are due to their ham-fisted incompetence. Like blowing $1m on drilling for oil in a farmer's field in Victoria.
I wonder how much wealth these halfwits have destroyed?
Interestingly, I wonder how much FRL and Alliance gouged out of the company in mandate fees?
And how much Creafin has hoovered?
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