Speak up Commodore. We need your expert analysis on the Westpac...

Speak up Commodore. We need your expert analysis on the Westpac deal.

My opinion.
Shell company, no future business, valuation now to be modelled on NPV basis, PE no longer applies, risk of total collapse postponed, funding issues still around for rest of loan book. Share price impossible to value.

Cliff notes: Company skinned alive by Westpac.