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Article: AUSTRALIA'S GUNNS IN TALKS OVER GREAT SOUTHERN FORESTRY ASSETS.
- Article from:
- AsiaPulse News
- Article date:
- October 1, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MELBOURNE, Oct 1 Asia Pulse - Australian woodchipper Gunns Ltd (ASX:GNS) said on Thursday that it was in talks with the receivers of failed agricultural projects operator Great Southern (ASX:GTP) to replace Great Southern Managers Australia Ltd as the responsible entity of certain forestry managed investment schemes (MIS).
Debt-laden Great Southern, which operated 45 forestry, horticulture and cattle managed investment schemes on behalf of 43,000 investors, was placed in administration and receivership in May after its cashflow dried up and was unable to draw more support from its bankers.
Receivers McGrathNicol last month called for expressions of ...