GoSeigen wrote:GoSeigen wrote:hiriskpaul wrote:On the whole I was quite pleased and relieved by the results. Management continue to run things prudently and no sign (yet) of a significant rise in defaults, which is what the PRA will be looking out for. Not mentioned is the potentially impudent SC appeal. If that goes ahead and MBS lose again, that will likely push everything back another year.
Impudent or imprudent. I don't think the appeal is likely before the end of the year, and others have suggested that final stage of appeal is not that costly. Also it seems to me they have nothing to lose. The earlier cases had already gone entirely against them in terms of costs, so surely the possible outcomes in the Supreme Court are skewed to the upside?
Still, profits are skinny so I don't disagree that losing would further delay the slow recovery of this business.
The above Supreme Court appeal has been heard, judgment expected early 2021. There has been some discussion of MBSR/MBSP and the appeal on this thread:
The supply situation for these PIBS has changed significantly AFAICS. Earlier this year I was able to buy as many as I needed without any difficulty. Yesterday though I tried to buy MBSR and supply seems to have completely dried up. This is good for holders but a problem if you want to buy. Anyone know where I can get some MBSR?
Well you will not be buying them from me . Got an online quote for 1000 at 30p, but that's it. No problem getting selling quotes for up to 200k at 26.625.
I listened to it all, but do not know enough about the legal details to be able to form much of an opinion as to which way this would go. To win the case and not get net financial recompense seems bizarre to me, but the law can work in mysterious ways. I would have preferred it if MBS had not bothered spending money on this and just concentrated on sorting out their capital in conventional ways. Its a punt, which I guess might pay off.