M&K sent a juicy letter to us,and it aint even the hamburger...

M&K sent a juicy letter to us,and it aint even the hamburger with the lot.It is looking good from my dull perspective,people in this great southern and timbercorp plantations,and that is not only precluding all the other dodgy dealings with walnuts,olives,peanuts and cashews? and we haven't mentioned the cattle and or the trees not planted in the Tiwi's,it will be the fight of the century.

I suppose it really is all about due diligence,note the article states "slush fund"how did not the subsidary bank,Adelaide not pick up what the finance company arm of GSMAL ,when it bought,took,or was consigned the loans FROM Great Southern Management Agricultural Limited,well we will find out in August won't we.


Forestry schemes face ring-fencing
01 Jul, 2011 11:44 AM AFR
OPERATORS of forestry schemes and other managed investments would be banned from using investor money as a slush fund, in a bid to avoid Ponzi-style ?collapses and protect investors.
Ring-fencing schemes so the money invested in one project cannot be used to top-up returns on others is the latest in a string of reforms proposed in the two years since the collapse of Timbercorp and Great Southern, The Australian Financial Review reports.

The collapses left 60,000 investors, who had sunk $3 billion into forestry projects, in a messy battle with creditors and receivers.

In addition to controls on scheme funds, the Corporations and Markets Advisory Committee discussion paper released yesterday includes overhauling company law to make it easier for investors to get rid of scheme managers, appoint new ones and wind projects up.

"One of the principal obstacles in practice to restructuring a financially stressed [scheme] can be the difficulty in stabilising its affairs, at least temporarily, while the likelihood of its rehabilitation can be determined," the paper says.