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
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
Sydney
Level 13, Grosvenor Place
225 George Street
Sydney NSW 2000Postal Address:
GPO Box 4114
Sydney NSW 2001DX Address:
DX 10103
Sydney Stock ExchangeP: +61 2 9286 9999
F: +61 2 9286 9888
E: sydney@fh.com.au
Timbercop administraors
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 3000Fax:
+61 2 8257 3099Email:
info@kordamentha.comInquiries:
KordaMentha: Mike Smith 0411 055 306
Timbercorp Limited: Matt Trewin 03 86151200
