Hi Rickthe ANZ got the holding having guaranteed Allco payment...

Hi Rick

the ANZ got the holding having guaranteed Allco payment of $5 an OCP share under a purchase agreement with the Liberman family. therefore the default was on Allco not the Liberman family. Thus the shares owed ANZ $5 less any returns since received which I think have been circa $1.50 since then. thus they are still taking a significant loss but far less than they had when the stock was $2 pre capital returns and divis. Suspect that they had already written this down and therefore took the advantage of a profit to book.

I eagerly await their announcement on 26 August. Hope to high heaven that they give us the surplus capital rather than entertain any deal with HCI. be good to have an opportunity to recycle capital whilst the market is down.