good value, page-9

I was just reading that Commerzbank who is the parent of our lender, Eurohypo, is heavily exposed to PIIGS government bonds, and would most likely have negative equity if defaults started to cascade. see...

http://www.businessspectator.com.au/bs.nsf/Article/A-Greek-default-banking-dilemma-pd20110912-LMAZF?opendocument&src=rss

No idea what would happen to the loan agreement in the event of Commerzbank going into receivership, but with 30c cash per unit sitting in Australia able to be distributed in a windup, I am not very worried.