My guess is that AMM will be lucky to get ZERO from the sale of IP1.
http://afr.com/articles/2003/08/24/1061663672274.html
Presumably ANZ pulled the plug on IP1 so as to get as much of its owed $30m as possible. But obviously there are other debt holders.
So logic should demand that AMM does a big IP1 writedown and record a huge loss.
But I've seen little logic in the PWT shenanigans.
