timhb / todha, page-7

Check announcements under TOD for 2009.

The trust deed stipulateds that asset value behind each bond MUST be at least $150. This is revalued every three months.

Yes, TIM will be going into admin but these bonds are probably one of the safest out there. Bond holders have direct owership over land and water rights. There is no debt more senior over these assets. Quite simple really.

Any default - failure to pay yields (25% yield) or breach of $150 asset backing results in sale of properties for the benefit of bond holders.