Ann: Credit rating change (S&P), page-59

History of insolvent MIS's in Australia reads that when the parent company falls over, the various schemes RE's that they funded become hopelessly insolvent and are wound up.

There has never been a successful recapitalisation of an insolvent agribusiness RE in Australia. Gunns tried to do it with Great Southern's plantation and look how that ended up.

In reality, any QIN plantation that isn't within 3 years of harvest is worthless.