Essentially a vote for ARL is a vote for a 50%+ write down of...

Essentially a vote for ARL is a vote for a 50%+ write down of the Mortgage Loans. These loans form the bulk of PIF's assets.

And ARL agreed to those transfer valuations? Only to write the value down right away. How does an excessively high valuation help unit holders? Would have helped ARL get control of the assets. Probably helps Hutson cover herself in glory too. But it certainly doesn't give me cause for having faith in ARL looking after unit holder interests above their own interests.

The ARL-Hutson deal is too dodgy for my taste. ARL agreed to it. And if ARL have done it once then what's stopping them doing it again.

Fool me once, shame on you. Fool me twice, shame on me.