melua,
AHUGA went down because the Principals Trust went under. There was no further support to come from anywhere i.e. no support from AFG (or elsewhere). (At least as far as I can see - somebody please correct me if I am wrong.) AFG has committed to supporting the Alleasing Trust if the statement in HY report is to be believed. The Principals Trust had no back up; the Alleasing Trust appears to have the back up of AFG. The back up provided by AFG would almost appear to make the success or otherwise of Alleasinng irrelevant.
I reiterate my questions and add one:
1. What makes you think that AFG would renege on the undertaking?
2. Or is there something in the AHUG structure that I have missed that means that they would not be covered by the undertaking?
3. If the undertkaing is meaningless and does not hold AFG to anything why bother reporting it at all?
ahug announcement expected thursday, page-45
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