The following is from the EAIT reports. Hopefully this means...

The following is from the EAIT reports. Hopefully this means that AIQ may be debt free (or very close to). My guess is still for a distribution in February/March once annual accounts have been finalised.

From November report (on Everest website)
"Our manager realisation process continued in November and we have been building cash holdings in order to repay
further leverage and meet potential withdrawals under the December Withdrawal Offer. At month end, we had built a
US$25 million cash position (approximately 30% of total assets) which we have since partially used to repay further debt, bringing gross leverage down to approximately 10%."

From December report (not on webisite)
"Following a significant focus on structural and portfolio improvements in 2009, we think the Fund is in a significantly stronger position to benefit from investment markets in 2010. In 2009, we pursued a strategy that was focused on generating liquidity and aggressively reducing debt (gross leverage is now approximately 10%)."