Anyone's guess as to what's going on regarding the Sheraton.
According to this release end of last week, Ashington's is being wound up, and while there's an ongoing dispute with VPG (co-investors in the Sheraton), the fund from Ashington's side is overseen by Scarborough Pacific (remember our old friend McCabe), and managed by ex-VPG Nicki Garrett (remember who too?). A little difficult to unravel what's going on from the story, but doesn't matter where one goes - always seems to be the same people sharing the same bed...Anyway how will the wind up of Ashingtons affect the oustanding claims by VPG for money's owed.
http://www.theaustralian.com.au/business/property/proeprty-fund-falters-after-legal-fee-fight/story-e6frg9gx-1225895300964
Also noted that according to etrade, there's now a new analyst looking over VPG who now reckons a fair price of 9cps and has little positive to say regarding divies down the line. Let's see how accurate this analyst is...
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