I have to agree with your reasoning levin. Many years ago, I bought an investment of pine trees on kangaroo Island with Forestry Management, which mismanaged the project and went into administration. An offer was made to take over the projects by another company, at a substantial cost to investors, which included yearly maintainance fees, insurance premiums, and loss of return from thinnings. After the trees reached close to maturity, this second company went into administration. Because investors only owned the trees and banks held the security over the leased land, investors lost the lot.
If the deal fails to get passed and GTP does in fact fall over, we will become very vulnerable to the institutions who hold the security over the GSL land holdings. If the worse case scenario happened, I would be having a mighty big BBQ at my place.
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