KordaMentha, the liquidator of failed agribusiness company Timbercorp, has discovered that the company allegedly paid secret commissions to financial planners and operated secret plantations to falsely boost yields to investors.
Great Southern Plantations
Agribusiness: where you lose some, then you lose some more
PT Barnum was once claimed to have noted that “there’s a sucker born every minute”. If he was talking about investors in agribusiness managed investment schemes, he would probably be right.
The list of Timbercorp’s victims continues to grow
The roll-call of wrongdoers in the agribusiness saga is growing by the day.
Crikey roll call: the GFC’s corporate casualties
Two years on and the global financial crisis has claimed two major scalps — corporate managers and equity investors.
Bendigo and Adelaide should come clean on MIS
Bendigo and Adelaide Bank should fully disclose the entire exposure the bank has to the collapsed management investment scheme industry.
Nats don’t mind a rural rort, as long as it goes to their constituents
The collapse of Timbercorp and Great Southern is at least partly the consequence of the Howard Government’s attempts to regain control of agricultural managed investment schemes.
Death knell sounds for rural enterprise
The recent collapse of Great Southern and Timbercorp could spell the end for rural investment schemes designed solely as tax write-offs.
Great Southern felled by Sword of Damocles
The collapse of agribusiness company Great Southern Plantations would have surprised few.
Morning Market Report: Great Southern placed into voluntary administration
The market is down 50. The SFE futures suggested a 42 point fall in the market this morning. Only healthcare and utility stocks up. All other sectors down. Resources doing the worst — BHP and RIO down 2.0% and 3.1%. Alumina (AWC) down 11% on the open. Banks all down — WBC down 3.9% having gone ex dividend 56c. […]
Melville Island forestry: Rainforest? What rainforest?
Great Southern Plantations may want to blame “mapping technology” for some of its breaches of landclearing regulations on Melville Island, but perhaps it should just learn how to count, writes Charles Roche.
Praise the woodchips and pass the backpackers
Australia’s largest promoter of forestry-based Managed Investment Schemes—Great Southern Plantations—has been using unskilled foreign backpackers to carry out sensitive land clearing operations, writes Henri Ivrey.
