Hi,my understanding was that these bonds were secured against...

Hi,
my understanding was that these bonds were secured against assets that had to have a value at least 50% greater than the face value of the bonds. Even the liquidators describe them as 'secured'. If you look at the info on the following Thornton Group link, they also state "All debentures and bonds are secured and have a direct charge over cash and or assets of the issuer". http://www.bowmanfp.com.au/news_02.html
However, I have heard similar 'unsecured' comments. The lack of information to us holders of these bonds is really disappointing. You would think that we would be provided with some clarity on our standing by now.
Hopefully soon....