Do you realise TTTE that we ARE going with ARL. WC's 2012...

Do you realise TTTE that we ARE going with ARL.

WC's 2012 transfers between ARL and PIF stand. ARL's shares are held by our fund instead of directly by us. ASIC and the Federal court decision merely trapped the ARL shares in the fund.

The only thing left to settle is the nature of WC's exit. ASIC's legal action this week merely objected to the nature of WC's exit.

I reckon I could argue that ASIC still hasn't lifted a finger for PIF unit holders because to me it looks like ASIC's late activity benefits ARL and WC more than they benefit us.

The only thing that keeps WC's hold over PIF going for so long was unit holder ignorance, fear and/or apathy. And with Hutson's classical legal training, WC has played our foolishness perfectly.

If a book is ever written about PIF it should be called: Ship of Fools.