good value, page-29

"re: the resort purchase the only concern I have there is that it was a related party transaction.

This is purely my own speculation but when you have a company with direct and indirect property portfolios (via managed funds) there seems to be a risk that this could occur.

I will be glad to be proven wrong here."

hammer05,
That's exactly what I was thinking - on the one hand you wouldn't spend $20m if you knew you are about to go into receivership, however as you mentioned that transaction could be designed to benefit related party (if they know TCQ is going down, it doesn't matter whether it goes down with -$10m or -$100m - so rack up the losses, you've got nothing to lose).

Would be highly questionable though (hence potential ASIC/ASX action).

Do they have any exposure to City Pacific that went into administration the other day?