What is the best bet AFGHA or AHUG ?
Today's announcement raises a few questions, for AFGHA to survive then AFG have to sell Alleasing and payout the AHUG note holders and pocket their share.
The company as late as today said they have budgeted for the AFGHA Nov. payment, but have the option to forgo it and incur a 2% penalty interest.
One worry is that one of Alleasing's conditions is that Champ secure their funding, having seen the NZ sale fall through because their funding fell through is a bit scary.
The Rubicon America Trust is having problems with its major tenant in one of their large properties also, so life at the moment is a bit of a problem that may get worse if finaciers continue to put the brakes on.
One would think that the directors must have some confidence if they have been worrying about the CEO's new salary package.
I can't understand why the current problem with the loan repayments schedule is occouring, they have over 10 months to pay down their loans by $266 million, to have their debt at $400 million by september next year,why is there such a rush to pay off about $150 million in the next two months, leaving only $116 million to pay off in the next 9 months ???
best bet
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