I would have thought the underwriting obligation more binding...

I would have thought the underwriting obligation more binding than the shareholder liability. I think it obvious that Mac and Deutsche were better informed than most of the unit holders.

Funny your difference in treatment of unit holders and underwriters. Anything to disclose, Kenny?

Out of interest I'd like to know a bit more about the derivative plays that the company engaged in. It might explain why the dividend was canned.