allco principals investment appoints administa, page-8

Although IBA painted a slightly rosy picture of AEP i.e. big chunk of cash & no recourse debt, if AEP's business model in general is kaput then maybe at some stage AEP will need to opt out of its shareholding of IBA. If they do opt out, then there be some short term shareprice pain ahead (um like that isnt happening already). Lets hope IBA's debt convenants have no links to market cap changes.