DateOctober 10, 2012 - 10:27AMRead later David Beniuk AAP
A meeting of failed timber company Gunns' creditors is underway in Launceston.
About 120 people have turned up for the first creditors meeting organised by administrators PPB Advisory at a boat club opposite the company's headquarters.
Recently sacked chief executive Greg L'Estrange and company secretary Wayne Chapman are among those attending Wednesday's meeting.
The meeting is likely to decide whether a committee will be formed to represent creditors in dealings with the administrator.
Gunns entered voluntary administration and receivership last month after a six-month trading halt and massive losses.
A lone protester, Michael Hirst from the pro-forestry group Give It Back, said he was likely to lose a significant sum of money as a leasehold timber grower for Gunns.
"There's going to be some angry people in there and rightly so," he told AAP
GNS Price at posting:
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