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Originally Posted by Stranger_Danger
It's all too complicated.
i totally agree. I recall doing an analysis at the time and seeing way too many red flags to make the hanover into ALF deal a goer. Watson and hotchin had so many deals going that there was no way there was going to be anything of benefit to the Hanover investors I knew at the time. Unfortunately they believed that it was a good deal and thought the idea of getting 70 cents in the dollar via ALF a much better proposition than putting hanover into receivership. Thats why I'm now supporting several of these investors. Theres little to be gained from any analysis now. Its a gone burger for all concerned and the potential gains by bottom picking ALF (and a risk the bottom hasn't yet been reached) just don't make the effort worthwhile.
But thanks Lizard - always useful to recap on some of the deals elements so future punters can learn to look for the yellow and red flags of warning that fly when these sort of deals get done.
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