@denk12 I am sorry to detect a sense of despair in your post. I...

@denk12

I am sorry to detect a sense of despair in your post.

I do not claim to understand the new funding deal with Fortress, specially with regard to the "capped priority return" part of the deal. So I cannot judge whether IMF has negotiated a good deal or not.

With regard to the deal being dumped onto shareholders, do you think the board would be expected to consult the shareholders whilst they are in the process of negotiation? They have in the past mooted the possibility of seeking alternative ways of funding and having a model of a "portfolio of cases".
Below is an excerpt from the AGM presentation in Nov '16 by the MD.

CAPITAL MANAGEMENT

•  One of key priorities for FY17 will be implementing a capital management plan to fund US investments.
  
•  Exploring opportunities with placement agents and US lawyers.
  
•  Key benefits for IMF include risk mitigation, improved returns to shareholders through an alternative revenue source as a manager of other peoples’ money.
  
•  Too early to comment on economics or structure.
  
  So, although I share your concerns about lack of clarity in some of their disclosures I cannot view this next phase as a bad thing as yet.