outlook

This is what I see. NAB got caught big time on the directors margin lending shortfall. They will persue the 3 that resigned. Nab left holding millions of shares in default. Big overhang for the market except, the bank wont dump because its
gonna crystalise a huge loss they would rather defer to better time next year. Banks books neeed management at this time in parlous financial times.

The aseets that Allco have appointed advisers to auction for them are getting serious interest. The trick is to package them up so the buyer has to take some not so good with the vary good. macquarie wont like that.

It seems to me the bankers are working with them and dont wont a disaster any more than we do. Bankers seem to be making favourable noises re Senior and subordinate debt maturities on the priviso Allco gives them more assets to secure their loans against.Nothing unsual there.

Whats got me concerned is none of the above. I mean they made a $86m half year profit. They are not in breach of Senior loan covenants. Nup what I need help on is that $1.3b power asset they have committed to buy a few monts ago but have not settled on. I mean hello, you guys have seen this coming for how long, and you stump up commitment that would impress Donald Trump.

Ok so now they want out of the deal. Whats the break fee, if there is one and when would it be paid?

I cant see the press paying much interest in this not so small purchase. Just ranting about those parasites funding litigation and bankers pooping themselves.

Anyone got a fix on this deal coz except for this new nightmare Im absolutely calm and relaxed about my new acquisition in this company