Best I can tell there were 2 major sets of risks. The first is refinance risk on short term debt & margin calls. This has been put off for a year which should give the trust time to sell assets.
The second was the impact of the Responsible Entity failing. This has been put off for at least a year also with Allco's refinancing.
So why is RJT still trading like a call option?
It is now very likely that both RJT and Allco will use the next year to get their businesses into adequate shape.
What am I missing here? Is this free money?
Best I can tell there were 2 major sets of risks. The first is...
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