The whole LLA deal was complicated. The 30 June 2008 PIF Financial report states LLA owes PIF $77.947M which is written down to $27M We got back $10mill from LLA between July 2008 and Sept 2008 about the same time WC were to provide an $8 million loan to LLA as part of the recapitalisation. I have notes that say '6 Aug 2008 - The LLA recapitalisation was completed. As part of the recapitalisation WIM as RE of the PIF is to grant LLA an $8 million mezzanine loan (interest free for 2 years, thereafter BBSY plus 7.0% margin). The PIF will receive $10 million upfront and then another $18 million over time (interest free for 2 years, thereafter BBSY plus 7.0% margin)' So I have no idea what money we got back or where it went.
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The whole LLA deal was complicated. The 30 June 2008 PIF...
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