The receivers of Great Southern will wind up the failed agribusiness' 2007 plantation scheme after leading candidates withdrew their offers.
McGrathNicol was left with no option but to wind up Great Southern's remaining plantation scheme, after investors last month voted in favour of Tasmanian tumber company Gunns to takeover the 1998 to 2006 plantation schemes.
Gunns confirmed to WA Business News last week that it would not seek control of the 2007 scheme, citing a lack of economic viability.
The plantation's other contenders, the Gordon Martin-led Pulpwood Plantations and the Tony Jack-led Black Tree withdrew their offers last month, after McGrathNicol nominated Gunns as its preferred bidder for the other schemes.
In a statement today, McGrathNicol said that according to its cash flow forecasts, the 2007 scheme would cost $3 million over the next six month to remain operational.
It also forecasted that investors would achieve an aggregate positive net cash flow of $30 million, the scheme would incur a total net loss of $6 million, while a replacement responsible entity for the scheme would incur a net loss of $36 million.
The receivers will also wind up the 2008 renewable fibre project after Black Tree withdrew its offer and Gunns elected not to make an offer.
The project was estimated to cost $8 million over the next six months to remain operational.