Great Southern land up for sale Posted March 10, 2010 13:42:00 Map: Penola 5277 The liquidators of the failed agribusiness Great Southern are trying to repay some debts with a sale of timber plantation land in the Green Triangle.
The Tasmanian timber company Gunns took ownership of the plantations on the land, but not the land itself.
The general manager of Plantation Timbers, John Kellas, says it would cost a lot of money to remove the trees and convert the land for cropping or grazing use.
He says the liquidators are trying to come up with about $600 million to repay creditors.
"This is land that Gunns effectively own the trees on, but Gunns chose not to take up the land ownership, so it's still with the liquidators and they will try to be moving that on to get money in for the ultimate creditors," he said.
GTP Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held
