0 a reduction in the value of an asset in a company's accounts, when it is calculated to be worth less than previously shown: --
There will be no question of write-down; it will be a question of write-up.
The write-down of the assets is between £2 billion and £3 billion.
But such a write-down scheme would make money available because less would have to be paid out in interest.
There was the amount of write-down, the amount of interest payable, and the length of postponement of the redemption of the debt.
Inevitably this implies the necessity for a substantial write-down of capital if the new company is to recover solvency and pay its way.
There are also extraordinary items, consisting of redundancy and other closure costs and a write-down of over £1,100 million of fixed assets.
That arrangement was to allow for a write-down value after 21 years.
He then went on to talk about the possible write-down of assets, and at some stage we shall talk about the possible write-up of assets.
