"It is anticipated the December 2008 half year distribution paid...

"It is anticipated the December 2008 half year distribution paid to unitholders in February 2009 will exceed the Fund’s taxable income for the tax year ending 30 June 2009."

I had to read the above statement about 4 times to make sure I was reading it correctly. What an enormous mistake for a cash strapped company! It is incompetence beyond belief. Every senior manager starting with the MD and CFO who were involved in determining the distribution should be sacked. If you were a creditor, would you continue to trust them with your money when they obviously can't manage it?

For the nimble trader, this can provide a good trading opportunity though. I will continue to watch with interest.

Cheers