The control and growth of LLP's cash flows can be attributed to the LLC personal sent in to clean up. This is not just at the top with Fering and Walsh but also numerous key positions to start running LLP like a profitable long term business rather then a dumping ground for B&B's retirement and agecare acquisitions.
The waiver derisks them from needing to do a cap raising or forced asset sale. There is additional cash that they need to come up with but if need be I assume LLC would be involved in a market value transaction similar to the PTN deal to provide LLP with short term cash to reduce debt.
LLC is a world class property manager and I have full confidence with the people they have put in place in LLP they will outperform other retirement and age care companies in the long term.
LLP Price at posting:
22.0¢ Sentiment: LT Buy Disclosure: Held
