Whilst not going into the details of the financials you have outlined, I can only think of one thing, there are two proposals, and the one you suggest is more favourable (by financials) is proposed by Caldwell who's directorship has lead GSL to administration, with unfulfilled promises and agreements, and as noted by the report, massive director fees.
I consider my investment in GSL as being dollar wise, worthless. The competing syndicate proposal puts current shareholders with cents on the dollar, but at this stage, I personally could in no way could trust the team that destroyed the company to this stage that we are having this conversation, because they have 'proposed' better financials.
(Not directed at you Maca01), but c'mon people, the candy that looks sweetest, leaves us with the most rot....
GSL Price at posting:
17.0¢ Sentiment: None Disclosure: Held
