Hi simgrund,
The money that Fortress paid to settle the litigation was paid to the Octaviar liquidator, not to ARL. We, the ARL board have no control over the Octaviar liquidator. We do not know when the cash that sits in Octaviar will be paid to ARL and other creditors, nor do we know what proportion of the Fortress cash will be paid to us.
I cannot say more as I am limited in what I can say about Octaviar.
I rather like your description of the $10m settlement as "officially out of our calculations, or rather wafting around disguised as a puff of smoke" - it is an apt metaphor for ARL's Octaviar asset.
Please however do not blame the ARL board for this unfortunate state of affairs as it is not in ARL's control.
If you think that sounds unsatisfactory, I'd agree with you.
This story is far from over. When we are in a position to say more, we will do so.
Fred Woollard
Director
Asset Resolution Ltd
OCV
octaviar limited
