$hit. At least it's on the table now and 30 million in equity isn't bad. A bit overleveraged, pity office space is so oversupplied at the moment otherwise he would have been OK. I hope that the valuing is realistic. Be interesting, and somewhat nervewracking, to see what happens to the Phoenix now.
Yeah, there's no guarantee he'll get the valuations in this market. 30 million could be a best case scenario.