Gunns faces liquidation vote

THE collapsed Tasmanian timber company Gunns is expected to be placed into liquidation at a meeting of creditors today.

Creditors owed more than $780 million have begun meeting in Launceston to vote on the future of Gunns.

Administrators PPB Advisory has recommended that the company be liquidated.

The former giant of the timber industry collapsed last September when its lenders refused to extend loans worth more than $400 million.

A vote for liquidation would pave the way for the sale of all of the company's assets.

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