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Old 24th May 2011 | 09:08
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Wizofoz
 
Joined: Jun 2001
Posts: 4,835
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From: Boldly going where no split infinitive has gone before..
Jack,

Problem is, as far as I can tell, your current share value is zero. All money, plus substantial debt, is tied up in the Miami property.

There IS no money to withdraw until the scheme achieves some level of realization of assets.

At the end of the six years of the limited partner agreement, limited partners have some say in how the development is realized, and could probably vote to wind it up. This would probably be counter productive.

There's no question it will be a loss in terms of what the money could have been invested in, but hindsight is 20/20 and risk is what investment is all about.

I think considering it a write-off and being pleased if the result is anything else is probably the best you can do.
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