What really intrigues me Splitpin is the legal and other ramifications . For example if the High Court finds in favour of ASIC are the assets the reassigned back to WC. And then would those remaining assets have to be re -valued upwards again. WC valuation criteria appears to be far higher than the estimate made by ARL. So for example 30 million would the become 60 million again .And we are in the money at 3.6x2 =7.2 cents. Or WC would have to concede that their valuation process was flawed, and what are the legal implications of that finding? Then we have the considerable expenses incurred by ARL . Would the property transactions that have occurred thus far ,and resulting expenses be deemed unlawful. I would have thought that freezing the asset sales until a legal judgement was made would be safest avenue .However WC legal team, and ARL, appears to be relying on a fait accompli type scenario in which all these possibilities , will somehow evaporate into a legal void , whatever the final outcome.
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