3year moratorium for opi pacific, page-5

R100

Tuart is right. The basics are that MFS used the NZ fund to provide 2nd mortgage money for projects which PIF could only provide 1st mortgage funds to and which are now been sold for undervalue. What happens in that situation is that the 2nd mortgagee gets 'burn't' and that is what will happen to NZ because OCV is the walking dead and they are in denial if they think they will get their money back.

The assets generating income are being sold and the other assets are being sold at a discount.

No extra money anywhere!!!