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Timbercop , Great southern who Next ?

They say that these 2 companies went down due to their style of investment; they were financial companies dealing in agribusiness and not agricultural companies also dealing with finance. Now that can make sense , but where do you draw the line between the amalgamation of these 2 activities when it comes to big companies like these. Great southern and timbercop are both complex big companies with several managed schemes which make it even more complex

Great southern Only recently put up $200 million of cattle properties and tree farms on the market to raise cash

There still was thousands of normal shareholders like us who lost out due to being unsecured creditors and therefore received nothing from the bits and pieces that was left off from great southern and timbercop. And off course the same is going to happen to great southern as well … when there will be more people losing their hard earned money.

great southern had 43,000 investors acroos 45 Investment schemes

liquidation  administration forestry schemes

Once companies like these fall into liquidation or administration. There is very less chances of recovery from assets and creditors as to get any substantial returns back to investors. Don’t expect to get much from the sale of the goats , cows and trees and olives and whatever from the selling off of assets of Great southern.

Wonder how the other agricultural based companies are going to fare after these 2 big companies have taken a fall. They might as well have a sound structure and asset backing.. but they are still going to be affected, even if they do

Administrators appointed for Great southern are Ferrier Hodgson

country flag icon Sydney

Level 13, Grosvenor Place
225 George Street
Sydney NSW 2000

Postal Address:
GPO Box 4114
Sydney NSW 2001

DX Address:
DX 10103
Sydney Stock Exchange

P: +61 2 9286 9999
F: +61 2 9286 9888
E: sydney@fh.com.au

Timbercop administraors

KordaMentha

Sydney Office

KordaMentha Pty Ltd

Level 5, Chifley Tower, 2 Chifley Square

Sydney 2000

New South Wales, Australia

GPO Box 2523

Sydney 2001

New South Wales, Australia

Tel:
+61 2 8257 3000

Fax:
+61 2 8257 3099

Email:
info@kordamentha.com

Inquiries:

KordaMentha: Mike Smith 0411 055 306
Timbercorp Limited: Matt Trewin 03 86151200

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