balmain/trilogy meeting - oh dear....

Well it looks like the FMF saviours, Balmain/Trilogy, have fired their first shot and its.......a blank!!!!

If legal response is correct it does not present them in glowing terms. If they can't get the actual Resolution right, and the return of the proxies, the fmf members would seem to be 'going out the frying pan into the fire'....

Seriously, putting aside all the BS and posturing about the RE, the key arguement for the future of the fmf for me is paragraphs 26 - 30 of the lawyers letter, headed 'No fire sale'.

Regardless of who the RE is to the FMF, these are the critical issues. Until the finance and property markets start to return to somewhere near 'normal' (whatever that is after the GFC), the fmf and it's investors will struggle.

The only thing that will resolve these problems are time, and the patience of the CBA. Not ciy, not Balmain/Trilogy, not Investaguard.

All the rest is semantics.

Cheers,
Mac