The latest is that TIM want TOT to give them a three month moratorium and in fact the citrus crop will then be harvested for growers if they go into default that harvest can be attached. The more I see of this the best is to vote against Align's proposal the TIM administrators have told them they are unlikely to continue with these crops on these farms. If they cannot see a way forward for it why waste time and put the asset at risk.
Align seems to be seeking to keep the TPIF fund going forward and will be using our assets here to help fund their operation whilst they get it off the ground. This via the admin fees we are responsible for to them whilst this drags out.
Whilst they are proposing a way forward for TPIF and a capital raising etc etc they just keep giving TOT the scary tactics of fear. I dont fear the reality bring it on. Lets get someone in working for the bondholders.
Disclaimer: I take no liability for the accuracy of my post. Do your own research prior to making any investment decision.
timhb / todha, page-34
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