Lonsec news about 2 weeks old, but still worth a read.The $0.95c...

Lonsec news about 2 weeks old, but still worth a read.
The $0.95c was subject to the $50M back up from parent company being available - however those funds used to appease RBOS.
Also assumed $186K loans to other MFS entities will be repaid . I'd say unlikley to get full value.

Unknown is the value of the Lloyds insurance on Commercial Loans. Perhaps worthless?
LVR was supposed to be around 62%, so, perhaps if they can finish off most projects, it will be ok. I don't know whether their incoming cash from loan repayments can fund unfinished projects though. If not, bad news.