Page 12 - Progressive elimination of the historical PDL sale program (Simplification of Business Model)
Why eliminate the Balbec program if it is not a problem? There was no mention of these sales being linked to the write-down in the June 2 market update / results announcement - the blame for that seems to have been placed on undertaking less legal activity.
Although they do say (page 2 of June 2 announcement) that "the reduced use of legal action as part of our collections approach has been A critical change over the last six months" - I wonder what the other critical factors are or indeed what is THE critical factor that has led to this $89.9M write-down?
Page 12 - Progressive elimination of the historical PDL sale...
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