From reports it appears that opi pacific sits behind PIF as...

From reports it appears that opi pacific sits behind PIF as second mortgagee on a number of projects.

King could not get the really risky funding off the poor mums and dads of Australia so found away to really put at risk NZ mums and dads hard earned money.

Just to placate provided a guarantee but if the house of cards falls this does not mean much.

OPI as much as PIF investors need to see some form of work out of PIF to see a return.

OCV needs this just as much to reduce liability to NZ

I recall seeing some really big numbers in relation to the value of the MFS NZ listed entity interests in financial planning businesses.

I am not sure if the vendors got paid cash or took shares but I am guessing once MFS controlled these groups the MFS product was what was flogged pretty hard in NZ through its own planner network.

Conflict what conflict !!

From an OCV point of view 3 year work out plan for NZ is a good thing as buys time so it becomes one of the big four creditors starting to be deal with.