octaviars debt to pif, page-18

Hey BB I tried to say the same things a few days ago when you were ready to cut your wrists. You are up and down on this but it is a drawn out process and I can understand your emotions.

I still think that OCV has a few assets to sell that will bring more cash in and they can get through.

From an OCV point of view having WC in there negotiating on behalf of PIF and the $50 million guarantee could not be a friendlier party but this is not necessarily what is best for the 11,000 PIF investors.

Good to see them taking matters into their own hands in forming the action group.

Qld trustee IMO would be taking all required legal steps to keep pressure on OCV while continuing to negotiate. They have their own danger if the pull the trigger of ensuring this was the best outcome for noteholders. IF OCV are putting up alternatives that provide a better outcome than liquidation then they open themselves up to a claim.

It is not like you have talked about where it is the government and they can get the money back elsewhere. They represent the noteholders just like Sandhurst Perpetual etc in other schemes do as trustee but do not have to make up any losses.

Any losses will be born by the individual note holders so they have to act in their best interests.