Moreld am I correct in saying that note holders move...

Moreld am I correct in saying that note holders move significantly UP the creditors food chain?
Sorry wooduk, the short answer is no.
TREES holders are pretty much bottom of the creditor totem pole.
1. secured creditors (banks)
2. employees (how sick and forked off does that make you feel in the case of execs, directors and senior management?)
3. trade creditors
4. unsecured creditors (TREES)

I may have missed some and am not an expert in this area.

I am not hopeful of a refund, although that means assets are worth less than 40% of audited valued.

I saw your post on ASF http://www.aussiestockforums.com/forums/showthread.php?p=443500&highlight=gtp#post443500

Man, that would really push my buttons, and I'm not a woodlot holder. Having GSL executives involved in the future is totally unpalatable.