Who has lost millions?
ARL continues in business courtesy of the banks who earn 9.5% interest on their loans. The banks are probably well secured by way of mortgages over ARL's assets and so I don't think the financiers have a real problem. I also doubt there are any substantial institution type entities ( Kerry Stokes excepted ) with big exposures remaining in ARL.
The only people who have lost millions are the shareholders.
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