we need to organise now

We need to get together and pull together and timbercorp people are not excluded from this.Collectively,as a united front we deal with the banks directly .This article explains in no uncertain terms that the liquidator at the rate he is bleeding GTP $5mil a month,and the pending criminal charges that will happen sooner if not later that McgrathNicol have no intention of saving you the grower who OWNS the trees on the land that the bank reckons is theirs as GTP owns it.Isay that possesion is 9/10th's of the law and guess wot the trees that you own are now on your LAND,DYOR,that is right GTP owe the growers,the owners of the tree,you are creditors at the top of the dung heap called GTP.Remember the cattle were bought by the investors,but some how they the liquidator reckons the cattle were leased and portion of the progeny is yours,that is if you can get an answer from the stock registration in Perth,who seems to be able to communicate with the liquidator better than you or I.Try them with your I.D> PIC numbers,see how you go with the bulldust,BUT record what you say and what they say,more charges?
Getting back to the trees,this news article reading between the the lines is a heads up that this Ponzi scheme is going to knock off the asset.
If you relaxed to let the lawyers handle it,go ahead and sure when it is finished by then the trees will be gone and YOUR land that it sits on





Investors left in limbo by Great SouthernDanny John
July 8, 2009
MOST of Great Southern's managed investment schemes are expected to be insolvent without outside financial support, leaving their 43,000 investors dependent on the efforts of the failed group's receivers to find a new source of funding.

The running costs of the 45 schemes — ranging from timber plantations to fruit and nut products — are being covered from cash reserves secured by receiver McGrathNicol. But the grower investors were warned yesterday that the support was only a "temporary measure".

The financial crisis suffered by almost all of the schemes has been exacerbated by the dire plight of the failed agribusiness group's responsible entity, Great Southern Managers Australia Limited, which The Age revealed last month is insolvent.

Great Southern collapsed in mid-May, owing its bankers $600 million as well as putting at risk at least $1.8 billion raised from its grower investors.

They have been told in a letter sent out by receiver Simon Read this week that GSMAL has no money to complete any of the projects, but that "certain expenses" have been met to preserve the various horticultural assets for the time being.

However, Mr Read underlined the increasing uncertainty facing the schemes if no new sources of funding are made available. Such steps include the grower investors putting up more money.

"Investors should be under no illusion regarding the funding," he said. "It is an ad hoc, interim arrangement. It is not a solution to the solvency of the schemes."

Having taken control of Great Southern seven weeks ago, McGrathNicol is now starting to work out the viability of each scheme, but as yet does not have sufficient information to decide which projects might survive and those that will have to be wound up.

The receiver hopes to provide an initial view within a month. But there is no way that Great Southern's existing set-up can finance the gap in maintaining the projects and bringing them to harvest.

Source: The Age