got a letter from m&k

Yes Bodo got a letter from your favourite fan,obviously it was printed on cheap A4 as it was difficult to flush down the toilet.

Got a letter from the lawyers about the Timbercorp and Great Southern cases.For a start,the Timbercorp case will go another round,I understand that from the explanation that the good judge Judd was hanging on the tax angle and that the investors in Timbercorp were not really for the long haul and the massive capital gains at the end that would have to be paid at the end of the sale of the harvest.Mind you that tax event would have been based on the promotional and sale figures that were happening at the time of the returns when it was offered before the GFC.
At the time I believe that Timbercorp were touting something like 16% return on your investment,but don't quote me on it.

Moving on I believe that the good judge said that the directors couldn't fore see a GFC.Well,that was a no brainer,but there was is a duty of care in managing and operating the tree forestry,and was not the investors tipping in annually,more than happy to be corrected.

Now as far as GTP,we paid op front for all and sundry to have the trees planted and managed and also maintained.Gunns have said that they are in poor condition when they took it over,and there anecdotal evidence that in one scheme,great southern had allowed cattle to forage in the plantations,Kelly and Mac have been told of this.

Also my money was not to be LVR'd to buy other capital items and if you check the actual contractors that cultivated and planted the trees,I would suggest that there was plenty of cash to keep running the plantations.

Now this was on the trees,the cattle!,my god glad I was not in them,the vinyards,Walnuts,what have I missed,OH yeah the cuttings from the trees and the money Rhodes got from the contractor,AHH! we forgot about that didn't we?

In a nutshell our day in court is apparently in August 2012,in the mean time keep at it

DYOR cheers