octaviar deal in spotlight , page-6

Yes Selciper, remember those days long ago...when JH promised quarterly investor reports, financial details of loans etc, distributions in October and December, and thereafter quarterly , transparent management of the fund, restoration of unit value... and that famous quote "I will chase that $147M to the end of the world... I will stay on the battle field until I get it".

I do hope that McMurdo J makes a determination on the question of the purchase of the fund, if not, the question is likely to be revisited by a liquidator if Octaviar is to be finally woundup.

Having agreed a price of 0.7% x 4 = 2.8% of $755M = $21.4M a liquidator may well be obliged to seek payment. Remember the finding in the Deloittes report on Octaviar Administration Pty Ltd... "Given our comments about the likely insolvent date of the Octaviar Group we consider the possible recovery from preference claims and uncommercial transactions to be in the range of $9.0m and $86.7m."

Yes, all this ...and an investors class action on top - I can hear her screaming THE INVESTORS ARE REVOLTING!