I cannot understand the peace and quiet on this forum. I am a 1999 grower. I purchased the woodlots based on financial advice and the very active encouragement of the federal government. I paid my management fees every year and did all that I was responsible to do to ensure that my trees were well managed. Then the RE goes broke, and the liquidator has sold the whole company, including my trees, to some crowd who are going to pay me about $3000 (or far less) per woodlot. I have invested about $10,000 into each one and my trees could probably be harvested now for at least $6000 (not great, but I didn't realise how difficult it is to plant a tree, water it, weed it and watch it grow!).
On the matter of the sale, I don't remember voting to give KM the right to sell my trees. I paid my fees, so my rent is up to date, but somehow my trees have been sold for a song. I am p...ssed off and I am looking for a lawyer. Anybody know a good one?
BTW - The government of the time promoted these schemes heavily and failed to regulate them enough. Now they are leaving us all on a limb, even though it was their mistake in the first place (I take some blame, but the government and ASIC must take their share for the lack of regulation)! However we cannot sue them.
TIM Price at posting:
4.4¢ Sentiment: None Disclosure: Not Held
