Ann: Shareholder Update, page-29

As per my previous post (surprised no-one has replied to it - wrong thread maybe?).

FC would have got their $20m back from the restricted account.. The debt transfer will be for the rest of the money owing.. Remember, $20m was just 41% of the money they passed onto BIG.. 24% they received back as commission.. 35% was working capital (which BIG had access to).. It's possible FC managed to clean out the working capital account (hence BIG can't/won't pay employees/contractors) before selling the rest to AS Capital.

What's left would be physical assets & the video library of BIG Review TV.. BIG Un (the parent) had around $7m in the bank that may be at risk from the US lender (depending on what they agreed upon).. So I'm not sure the liquidator would have paid much at all to FC (unless the liquidator is controlled by some other entity wanting BIG Review TV's assets for next to nothing).

Also, BIG Un still has the BHA & FAB assets, so there could be something to salvage (along whatever cash is left in the corporate account), if BIG Review TV is a gonna.

As for Tipsly, not sure whether that lies under BIG In or BIG Review TV (or whether it even exists).