Comments on: Great Southern calls in administrators http://www.fusioninvesting.com/2009/05/great-southern-calls-in-administrators/ Fusing Fundamental and Technical Analysis with lashings of Behavioural Finance. Investing in Australia and North America. Thu, 02 Feb 2012 06:57:27 +0000 hourly 1 http://wordpress.org/?v=3.2 By: Dean Morel http://www.fusioninvesting.com/2009/05/great-southern-calls-in-administrators/comment-page-1/#comment-726 Dean Morel Mon, 01 Jun 2009 21:57:27 +0000 http://www.fusioninvesting.com/?p=1853#comment-726 Hi Peter, thanks for taking the time to comment Here is the <a href="http://www.ferrierhodgson.com/en/Current%20Matters/Corporate%20Recovery%20Matters/~/media/Files/Matters/2009/Great%20Southern%20Limited/1st%20Meeting%20of%20Creditors%20Presentation.ashx" rel="nofollow">presentation from GSL first creditors meeting</a> The <a href="http://www.ferrierhodgson.com/en/Current%20Matters/Corporate%20Recovery%20Matters/Great%20Southern%20Limited.aspx" rel="nofollow">Ferrier Hodgson site for GSL</a> is a good place to keep an eye on. They will be doing weekly(ish) updates. TREES are at the bottom of creditors, though still ahead of shareholders. The Trustee for the TREES http://www.aetlimited.com.au/CorporateTrustServices/Announcements/ has a Word document you can download to convert your TREES to debt. You have 60 days from the trigger point to do that. You don't convert to shares, just to debt. The word document is easy to fill in. Contact the trustee if you have any questions, I found them to be nice and helpful. I have started a spreadsheet to estimate the recovery, it is still very rough adn I have lots of questions, but here it is. <a href="http://spreadsheets.google.com/pub?key=p4y0P6tzJXmAX9VI8bnecbQ&single=true&gid=1&output=html" rel="nofollow">http://spreadsheets.google.com/pub?key=p4y0P6tzJXmAX9VI8bnecbQ&single=true&gid=1&output=html</a> Fingers and toes crossed for TREES holders. - Dean Hi Peter, thanks for taking the time to comment
Here is the presentation from GSL first creditors meeting
The Ferrier Hodgson site for GSL is a good place to keep an eye on. They will be doing weekly(ish) updates.
TREES are at the bottom of creditors, though still ahead of shareholders.

The Trustee for the TREES http://www.aetlimited.com.au/CorporateTrustServices/Announcements/ has a Word document you can download to convert your TREES to debt. You have 60 days from the trigger point to do that. You don’t convert to shares, just to debt. The word document is easy to fill in. Contact the trustee if you have any questions, I found them to be nice and helpful.

I have started a spreadsheet to estimate the recovery, it is still very rough adn I have lots of questions, but here it is.
http://spreadsheets.google.com/pub?key=p4y0P6tzJXmAX9VI8bnecbQ&single=true&gid=1&output=html

Fingers and toes crossed for TREES holders. – Dean

]]> By: Peter http://www.fusioninvesting.com/2009/05/great-southern-calls-in-administrators/comment-page-1/#comment-724 Peter Mon, 01 Jun 2009 10:45:22 +0000 http://www.fusioninvesting.com/?p=1853#comment-724 Any update from the creditors meeting? Reading the paper work I gather that Trees holder are at the bottom of the distribution list - is that correct? Any advice on what to do with the trigger event - swapping trees for shares doesn't sound like a great idea. Also unclear about the need to register as a creditor - again any advice? Help would be much appreciated. Any update from the creditors meeting?

Reading the paper work I gather that Trees holder are at the bottom of the distribution list – is that correct? Any advice on what to do with the trigger event – swapping trees for shares doesn’t sound like a great idea.

Also unclear about the need to register as a creditor – again any advice?

Help would be much appreciated.

]]> By: Dean Morel http://www.fusioninvesting.com/2009/05/great-southern-calls-in-administrators/comment-page-1/#comment-707 Dean Morel Sat, 23 May 2009 08:51:35 +0000 http://www.fusioninvesting.com/?p=1853#comment-707 Another good article on GTP at The Age. Good to see mainstream media now attaching the phrases Ponzi scheme and spruiker to Great Southern. Another good article on GTP at The Age. Good to see mainstream media now attaching the phrases Ponzi scheme and spruiker to Great Southern.

]]> By: Dean Morel http://www.fusioninvesting.com/2009/05/great-southern-calls-in-administrators/comment-page-1/#comment-704 Dean Morel Fri, 22 May 2009 03:11:25 +0000 http://www.fusioninvesting.com/?p=1853#comment-704 Michael Pascoe at The Age questions KPMG's independent report. Good article worth reading. Michael Pascoe at The Age questions KPMG’s independent report. Good article worth reading.

]]> By: Jae http://www.fusioninvesting.com/2009/05/great-southern-calls-in-administrators/comment-page-1/#comment-700 Jae Wed, 20 May 2009 10:16:01 +0000 http://www.fusioninvesting.com/?p=1853#comment-700 Today,I requested a Form of (Trees 3) Holder Redemption Notice and to being notified Acceleration Event by puyblishing an Acceleration Event Notice to Mr Martin Jones,joint and several adminstrator pursuant to Trees 3 Terms of Issue 6.8 (c) and 6.6 (d) by e-mail. Hopely,Trees Holders can get back their face value money! Please,feed back every usefull informations! Jae Today,I requested a Form of (Trees 3) Holder Redemption Notice and to being notified Acceleration Event by puyblishing an Acceleration Event Notice to Mr Martin Jones,joint and several adminstrator pursuant to Trees 3 Terms of Issue 6.8 (c) and 6.6 (d) by e-mail.

Hopely,Trees Holders can get back their face value money!
Please,feed back every usefull informations!

Jae

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