Ann: Notification of cessation of securities - SHJ, page-15

I think SHJ will be awarded about 36 million in costs and disbursementdin addition to already received which is 90% of the amount reported.

Shine has argues that disbursments in the for of medical expenses are actually benefits to the claimants and should be regarded as such when considering the net return. That is a fair argument but justice is not always fair.

The 32M interest bill is still in doubt. The contradictor has made strong representation that this should not be paid. I am not of that opinion, but I think Justice Lee might find a shared solution to placate both sides.

If Shine was succesful in administering the funds the total fees payable would be less than 26M and culd be less but their margin would be compressed. This might generate only a couple of Million in net profit after costs.

If shines net profit margin of 20% means that 80M in WIP would generate $16M of net profit, but the interest bill of $32 would generate a net loss of $16M to shareholders for running this case. If the court awards $16M to SHJ as shared interest expenses, the case will be neutral, and effectively probono.

I stand to be corrected by anyone.