BB.......the total people who will be getting all there money...

BB.......the total people who will be getting all there money back under the proposed offer is very small from what I have read. Regardless of that I feel that most would prefer to accept the offer, for the sole reason that they will be able to get the money now rather than wait the long and drawn out process of liquidation.

I read something today about the PIF people. Apparently if it were to be liquidated today it would be worth x, however, if it is to continue taking into account the guarantee and the potential action against OCV for around 140 million, it was worth significantly more. I can imagine some of those people would be unhappy that they have been sold this story that if they keep the fund going they will get significantly more, then just a couple of weeks later, a deal is done that would straight away reduce the potential return.

In relation to the shareholders, I think it is almost basically over. When I read the announcements i get the impression that they are all but conceding this. They use the words "align the obligations of those creditors with the realistaion of the groups assets". To me this says they are only looking at realising the assets to pay the creditors. There is no mention of moving forward.

Once all these assets are realised, what business is there?

Basically none.

I think the current board is hanging there hat on being able to sell the remainder of stella at significantly more than the $200+ million that it is currently valued at. The problem that I see with this plan is that, today, I dont think there are the "idiots" (for lack of a better word) that once existed (i.e when MFS purchased stella). This combined with the fact that the credit climate and general economic conditions aren't what they once were and that there are people who I think would have a vested interest in seeing OCV be liquidated.

In light all of this, combined with the margin loan issues and everything else, I think it will drop to the very low single figures IF it were to relist.