settlement offer made by t/govt.

The T/Govt has made a settlement offer to Gunns for a yet undisclosed figure as 're-imbursement' to extinguish their (GNS) residual legal rights to the previous timber contracts.

This settlement included a resolution to the disputed debts between Gunns and the State owned Forestry Tasmania.

So I dare say trading will be resumed today with an announcement to the ASX.

The main question left is or has Gunns secured financing and/or a JVP for the Mill.

If not can anyone estimate a voluntary solvency SP with say a 50% asset value fire sale? I'm sure insto's have done the best and worst case scenario of SP value in an orderly solvency.

Of course there is also the 11th hour takeover option for speculators.

In any case it should be an interesting day.