moving forward, page-4

"If they don't pull thru then PXUPA stand in front of PPX in a wind up."

You might be in front of the shareholder queue, but don't expect any equity left. Goodwill will plunge to zero as ppx administrators will be forced sellers and companies perceived equity just evaporates. After the bank debts, there wouldn't be much left. Evidence was with ING controlling the strings in the latest asset sale.

Look at Great Southern!!! They had $700m equity at last balance date - we hybrid holders got sweet zip!!