Hello targav8,PIF is on its last legs being stretched in 2...

Hello targav8,

PIF is on its last legs being stretched in 2 different directions by ARL and WC.

ASIC appeal (below) was successful

ASIC wins appeal against manager breach

[31 May, 2013 Jason Spits

The Australian Securities and Investments Commission (ASIC) has successfully overturned a Federal Court decision to dismiss an application by the regulator in relation to Wellington Capital Limited.]
http://www.moneymanagement.com.au/news/financial-services/2013/asic-wins-appeal-wellington-capital-manager-breach

We are still waiting with a bated breath for ASIC to force WC to make declarations to PIF folk.
Or have I missed that somewhere???

CA action is proceeding VW and early April should see final preparatory tid-bits (financial loss determined and so on) signed off and submitted to Registry for early October START of HEARING.

This may run till Feb 2015, hopefully less if time honoured tradition of sell-off prevails.

We sure hope it doesn't and PIF will get the full measure of what's due to them.
I am fantasizing here in Technicolor Cinemascope used in Ten Commandments.

Some other dollar chasing too may deliver some cherries;
ie Octaviar liquidation proceedings with $137 mil admitted to PIF.
But this one is in "Show me the Money" slot.

True Justice moves in mysterious ways, targav8.

Regards,