The trusts loan would have been 75% of $51.5M so $38.6M now it looks to be $2.13M securitised ove the 3 assets
so liabilities $34.5M less and assets $32M less
Assets were for the corporate RNY 478M with liabiliites of 331M giving a gearimg of 0.693
now assets would be $439.4 M with liabilities of $296.5M
giving a gearing of 0.675
Welcome to be refuted.