well on my analysis the RST entity would have had a shortfall on its margin loan.
It would be an interesting question as to whether the margin lender has recourse to Allco or indeed to anyone else in relation to its $70m loan, which it doesn't look like it would recover by dumping all of the RAT/REU/RJT stock into the market.
Now there is lots of old stories about banks mismanaging the sale of foreclosed properties, which perversely maximise the banks loss, and it emerges that one of the bank insiders has done this so they can buy the property themself really really cheap. I suspect some of this sort of thing has been going on recently.
RAT Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
