Mate, this is all ancient history, whilst there may be some good...

Mate, this is all ancient history, whilst there may be some good assets in the portfolio, it will be a very long time, if ever, until they'll be able to make any new investments from either their existing investor base or new prospective investors due to their reputation being shot as charlie.boy said above. This means that they're essentially in run-off mode which means they will never be able to grow their AUM and therefore revenues/earnings.

How much management alignment do you think there is when the shares are worth f all compared to what they once were?

Plus in the short term there's the issue that pikel1980 has discussed in detail in the rest of this thread - BLA have breached the covenants of the Oaktree loan agreement which means that the latter now has the former firmly by the short and curlies...