Looking through the notes - a necessity with TFC!Defaulted debt...

Looking through the notes - a necessity with TFC!

Defaulted debt of 580 hectares - plantation reclaimed due to default.

Plantation establishment fee forgone ($34,800)
Fair Value of the plantation acquired $85,306
Gain on settlement of trade debtor $50,506

Excuse me TFC or do you think we are stupid? How the hell has the plantation increased in value by $50 million since you planted it only in the last couple of years.

Good luck with getting the auditors to sign-off on that gain.If they do - then both TFC and they can expect a lot of questions at the AGM over the accounting treatment for this transaction and the assumptions in the model used to calculate that fair value.