"The funds were used by the then MFS to finance the purchase of...

"The funds were used by the then MFS to finance the purchase of several retirement homes from its subsidiary MFS Diversified (now GEO Property Group)."

I had re-read the ASX anns after the recent court descision, looking at ASX anns around the 22nd Jan.08
and the ann on the 23.Jan '08 titled

"MFS: Detail of relationship with MFS Limited and update"

seemed important/intersting ?...to make a clear distinction then between the entities.SH's were waiting for something more,imo.

I was actually trying to find some notification to SH's of the Fortress position or their corresponance of 22nd Jan '08 but there was nothing just this clarification re GEO and MFS a day later.

Important perhaps to clarify the loan from fortress to buy from a subsiduary which then became the foundation for further secured status? Am I following this correctly?

"At the time, the external management of the retirement homes was causing MFS some angst and the company decided to take them off the MFS Diversified balance sheet through a sale to a newly set up MFS subsidiary, Young Village Estates."

Its an informative article but PTQ has the resources to protect its Noteholders and should do so,imo.