Great Southern receiver McGrathNicol has opted to wind up the olive schemes operated by the fallen agribusiness company after failing to overcome a stalemate with two of the biggest names in Western Australian horticulture.
The anointing of a rival bidder by research houses means Pulpwood Plantations is an outsider to secure the necessary votes this week to take over Great Southern timber schemes.
The battle for Great Southern's plantation schemes has stepped up today with the Tony Jack-led Black Tree releasing details of its proposal while the Gordon Martin-backed Pulpwood Plantations hits out at rival bidder Gunns.
Returns to investors in two of Great Southern's wine schemes are likely to be lower after receivers McGrathNicol recommended the 2006 and 2007 wine grape income projects be wound up.
22 Oct 2009
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