Great Southern receiver McGrathNicol has telephoned investors in the flagship timber schemes urging them to hold off accepting the ‘rescue package’ lodged by the Gordon Martin-led Pulpwood Plantations.
As the University of Western Australia seeks leave to appeal to the High Court over a blow to its intellectual property rights, universities and employers nationwide are wondering what they need to do to avoid a similar fate.
RIPPLES from the fall of Allco Finance Group continue to work through the market, as the 'for sale' sign goes up at one of its investments, the Perth-founded debtor finance company Scottish Pacific Benchmark.
Perth-based property funds manager Aspen Group has outlined steps taken to address market pressures, which resulted in a $64.7 million loss for 2008-09 after the financial crisis severely hurt property valuations, management fees and transaction activity.
AT the end of the month, the remaining sales and marketing staff at failed agribusiness provider Great Southern will be made redundant; but the battle for control of its assets is just getting started.
Local forestry veteran Tony Jack has accused receiver McGrathNicol of using his bid for the collapsed Great Southern timber schemes to find a better deal for the bank creditors at the expense of out-of-pocket investors.