pigs, page-62

I like your way of thinking Blues. The only concern I have is:
Can we realise book value per the 2011 accounts?

For cash, we'll definitely get book value but for other assets (receivables, inventory and property, plant and equipment), I suspect that it will be hard to realise book value in a liquidation scenario.

If you went through the $1.54bn of assets, applied an appropriate level of fire sale/liquiation discount and deducted liabilities (which will not be discounted), you'd get a much better idea of potential available assets to PXU.

Hopefully this is still positive...