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.
MFS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
