Latest Receivers report out PE 31 August 2011. SCF had book assets of $1.9b prior to receivership. We'll recall govt bailed out SCF to the tune of $1.6b
Receivers have so far obtained $463m. (loan book $371m, sale of assets and property $45m, sale of investments $40m, other cash $7m).
On the other side of the ledger the recievers have spent $56.5m($39m on operating costs, $9.5m on asset realisation costs, $7.7 on admin costs)
As at 7 October the tax payer has been given $395m back.
Looks like there is now around $350m of assets left to flog off - but chances are this full amount may not be achievable.
At best SCF had assets worth $813b - a long way short of the reported $1.9b.
At best the tax payer will get back $745m out of its $1.6b bailout. More likely scenario is a total of $600m coming back to the taxpayer which means we have given SCF investors $1b more than they were worth.
So thats Alan's legacy. For all his "good deeds" its taken the tax payer to cough up $1b to stand behind him