I have just asked GTP's receivers the following:
"Dear McGrath Nicol,
I am a 2000 project investor in Great Southern Plantations. I understand that as receivers of GSL you have successfully applied to the courts for $45 million to provide funding for GSL's projects until mid 2010. This amount being eventually recouped from project returns.
You have also recently announced these projects are unfunded from the end of Sep, 2009, in which case what has happened to the $45 million? Has McGrath Nicol decided to not proceed with maintaining the projects?"
Does anyone else think the two announcements contradict each other?
Is the purpose (of giving such a short lead time until being unfunded) to push investors towards PPPL for some reason?
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