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 Crunch time for Great Southern forestry assets 

Crunch time for Great Southern forestry assets

30 Oct, 2009 09:48 AM
GREAT Southern's club banks - which include Commonwealth Bank of Australia, Australia and New Zealand Banking Group and Mizuho - met in Melbourne yesterday to nut out the best possible options regarding the varied proposals for the failed group's forestry assets.

According to The Australian Financial Review Great Southern receiver McGrathNicol is believed to have been there, too, passing along information on the three proposals from Gunns, Black Tree and Pulpwood Plantations, which are all keen on becoming a new responsible entity in some form or another.

Several other parties are believed to be interested in purchasing just the land, and still others may be partnering to do both.

No doubt growers will want this wrapped up as soon as possible, given McGrathNicol is tipped to be making about $1.5 million a fortnight.

However, sources say the receiver is hoping to have a grower meeting by Christmas and has already checked out venues.

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Sources say the receiver is hoping to have a grower meeting on Great Southern's assets by Christmas and has already checked out venues.
Sources say the receiver is hoping to have a grower meeting on Great Southern's assets by Christmas and has already checked out venues.
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29 October, 2009
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POLL
Q: For what level of cattle transaction levy will you be voting at this year's Meat and Livestock Australia annual general meeting?

$3.50
(64.9%)

$5
(35.1%)

Total Votes: 276
Poll Date: 25 October, 2009

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