Hi chrisec,Yes that is what they said! I did not clarify this...

Hi chrisec,

Yes that is what they said!

I did not clarify this point with them because I was probably still trying to pick my jaw up off the ground (lol); but yes the value comes from write-backs, property sales, lowering the LVR, and they must be assuming the case whereby the current loans facility was serviced and equity was not taken by the lenders - they are looking at CNP with a longer term view.

Cheers, Pie :)