I am a Timbercorp 2004 Finance Bond (Class B) holder. Yesterday I went into Timbercorp website and read the following: Liquidators of Timbercorp confirm that there are insufficient funds to pay interest payments due on 30/9 to the bond holders and it will not be possible to repay the bonds by the 31/3/2010. Does it mean that we are finished and there will be no payment whatsoever??? I was hoping that the holders will get something back. Bloody terrible - that is all I can say. Happy to be corrected.
TIM Price at posting:
4.4¢ Sentiment: None Disclosure: Held