So,now the anz is coming to the rescue of Gunns,tells who pulls...

So,now the anz is coming to the rescue of Gunns,tells who pulls the purse strings.Though I am rather surprised reluctantly how close the guesstimate was on what % was salted away in each of the schemes.

It is almost a re-run of Project Transformation,similar media statements,the phone calls from Gunns reps,I am waiting for a knock on the door,so Dr l"strangelove of Gunns can give me deal so I can give him my vote.NAH---too late,The Club banks have done that for him so far according to the media.
In saying that,Ihope the investors in the early scheme extract every fibre,leaf and gumnut out of these pricks and remind people to steer clear of MIS schemes,even if the Pope reckons it is a sure thing

Gunns closes in on Gt Southern schemes
17-December-09 by Jonathan Barrett


Tasmanian company Gunns is moving towards gaining control over several of Great Southern's early timber schemes, according to proxy numbers, although later schemes are still under a question mark.

The release of early proxy data comes one week before Gunns holds its investor meeting in Sydney.

Gunns requires 50 per cent worth of investor votes to secure each scheme, and is effectively in a one-horse race after rival bidders Pulpwood Plantations and Black Tree withdrew or suspended their proposals.
This does not make it a legitimate vote when you consider according to Hansard that it was and still is a ponzi,including the voting
How may you say?,Well who's money was it that bought the land and trees,it was not the directors,what a scam!


The proxy deadline falls on December 21.

Proxy data released by Great Southern receiver McGrathNicol shows up to 24 per cent worth of proxies have been cast in the early schemes. The receiver holds substantial voting power in the early schemes - up to 27 per cent - and those close to the process are therefore confident of reaching the 50 per cent mark.

McGrathNicol holds less sway in the later schemes - 2004 to 2006 schemes - and therefore with proxies cast so far worth less than 21 per cent it is uncertain whether Gunns will receive the required support.




Article tags: great southern, gunns, mcgrathnicol, proxy, schemes