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.
Timbercorp
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.
Aussie bankers doing fee-nominally well
Executives at our biggest banks continue to enjoy a myriad benefits, the Big Four being among the most generous remunerators of executives in business. But lower-paid workers have not been so lucky.
The list of Timbercorp’s victims continues to grow
The roll-call of wrongdoers in the agribusiness saga is growing by the day.
Your Say: Daily Mail readers' feedback: Utegate drives everyone mad
Readers are getting a little tired of Utegate, plus views on alternative medicine, the citizenship test, tasers and more.
Little chance that anything will be salvaged from Timbercorp
Timbercorp is broke — so broke that there’s no point in saving it, writes Glenn Dyer.
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.
Founder’s son gets timely Timbercorp payout
News that the son of Timbercorp’s CEO received a redundancy payout weeks before the company was placed into voluntary administration has raised some eyebrows.
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.
Falling Timbercorp leaves investors in the lurch
Timbercorp’s failure places the entire managed investment scheme sector in jeopardy.
Morning Market Report: Market up, Dow down, Stockland Group announces profit warning
Stockland Group announced a profit warning, expecting 10c per share due to writedowns on residential land and apartment values.
