Lawry1dog I am with you re what we will get back as return of capital fom Wellington Capital Limited. For a fund that was touted by senior WC management as returning more to PIF investors (45cents with no return from MFS) as a going concern as opposed to being liquidated I think we will be lucky to ever see the predicted '14 cents if the Fund had of been liquidated in Mar 2009' and not in 2011/12 as is currently happening. I would be 'delighted' to be proven wrong. I believe the PIF has been bled dry with most of the proceeds from sale of PIF assets being used to cover WC operating expenses but we will never know until WC is removed and the books scrutinised. I think it is way overdue for some ASIC intervention and at the very least insist on a comprehensive audit of the PIF remaining assets and correct current values before WC start taking management fees. I am not in the least bit optimistic in seeing PIF investors receive much more by way of return of capital from WC themselves as RE. I would like to know why we have not received anything from Bentleys from the Octaviar coffers to date.
I am also interested to see what decision Murray Bailey makes re his option to purchase Kooralbyn Resort is. That date is 16th Jan and the outcome hinged on the proposed Korralbyn-Boonah link rd of which to my knowledge has not received State or federal funding to date.
Optimistic? Not remotely on anything WC management related. Determined? Yes, to see every single snout that has sucked the PIF dry exposed and held accountable, including stamp lickers.
I do remain positive in receiving a positive outcome from the Class Action eventually.
OCV Price at posting:
0.0¢ Sentiment: None Disclosure: Held
