grower concerns

Right now the focus of all grower investors in Timbercorp needs to be the implementation, under the Corporations Act, of a temporary RE to take over the management of the eixsting projects.

Pressure should be put on ASIC and the government to step in a appoint a manager to protect the interest of growers, regardless of what the administrator do.

There is a 20 plus year lease on the assets and trust documentation stipulates that assets can only be sold on a lease back arrangement thus the reason why Timbercorp failed to secure a purchaser for the assets in the first place.

If you are a grower, send me an email, I have a prepared letter you can send to ASIC and the minister Mr Nick Sherry to demand action.