good to see gunns in trouble, page-17

The code of my poster corrupted, so I redo it again.

PS:

This GNS's $175m "divestment" is so complex that no wonder not many people understand it.

This "divestment" is to "sell" the young trees first and then to "buy" them back when they are mature. So in essence, it is like a mortgage - GNS mortgages the young trees for a $175m loan first and then pays the loan off plus interest at the end - but the interest will have to paid much higher than normal due to complexity.

So why GNS didn't make this "divestment" an explicitly "loan"/"debt" arrangement for the sake of simplicity?

The only purpose I could imagine was to avoid the word "debt"/"loan" deliberately, otherwise GNS might breach its loan covenants. So this may also reveal what an awful financial situation GNS is in.