Kooralbyn Township is a failed township as previously indicated...

Kooralbyn Township is a failed township as previously indicated – check out the web for details etc. vacant real estate etc.. or go and have a look.

What were the original MFS loans all about – no definitive details available from WCL to the unit holders that I can determine.

To me the whole thing appears to be very SUS with dodgy loans to start with.

WCL or ARL do not seem very forthcoming about all the definitive loan and valuation details.

But I am sure it will all come out in the wash eventually.

It appears;

1. MFS Original Loans $ 41.4 M

2. WCL Realisable 2008 $ 20 M

3. Sold say Estimate $ 7 M

Another fine performance may I say for PIF.