Dont you guys feel a bit peeved that The Intelligent Investor...

Dont you guys feel a bit peeved that The Intelligent Investor seems to have washed their hands of the investment suggestions.

I picked up somewhere that as a default situation had occurred you could also put in a claim as a concurrent creditor cannot remember where.

However found this on TII ask the experts:

"No I read that article and they were referring to TIMHB. We disagree on the matter of TIMHB's worth or worthlessness, though. The Timbercorp bonds are technically unsecured notes, and wed understand why that terminology alone raises alarm bells. But theres a very specific reason why these securities are called that. Youll find it in note 1.1 on page three of the original prospectus, specifically:

Under the Corporations Act, to be able to describe debt securities as debentures, the repayment of all moneys lent under the instrument must be secured by a charge to the Trustee over tangible property of the issuer or a guarantor of the issuer of the debt securities.

The assets that Timbercorp could provide as security included up to 10% in receivables, plus water licences and a few other assets that are valuable but considered intangible. Hence, this must be called an unsecured note despite the fact that theres significant security, most of which is tangible, physical property.

Depending on how the assets are liquidated, we certainly cannot guarantee that the $150 in book value will translate to a sale price high enough to ensure $100 is returned to TIMHB holders. But well be astounded if theres not a significant return of capital."