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Old 14th Jul 2009, 13:24
  #1957 (permalink)  
racedo
 
Join Date: Nov 2008
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The Tailwind issue has been mentioned by me on here before and Pilot investors looking at write offs of up to €40k.

The borrowed €10M from RBS, put up €15M and bought circa 10 Million shares. RBS sought refinancing and the loan now with another lender.

Total Shareholding Investment now worth less that €5.5 Million.

Idea that some one else took their loss is a joke, they responsible for it all and had to put up the cash for the €15 Million which is now gone and the difference between the amount repaid to RBS and what could be borrowed for new lender as no chance lender would have lent €10M to repay RBS.

Not a nice position to be in to keep funding something where you have already lost a fortune.
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