THE corporate watchdog will intervene on behalf of 6000 growers...

THE corporate watchdog will intervene on behalf of 6000 growers in a battle to save trees from being sold by Timbercorp liquidator Mark Korda.

The Australian Securities and Investments Commission told the almond and olive growers yesterday that a lawyer would be appointed to act on their behalf next Wednesday at a Victorian Supreme Court hearing to decide the fate of 14 separate almond and olive projects at Robinvale and Boort.

ASIC is also asking the growers to complete an online poll where their views about the future of individual schemes will be submitted to Justice Ross Robson who is to preside over the hearing.

Writing to growers yesterday, ASIC noted complaints it had received on perceived conflicts of interest involving Mr Korda's insolvency practice.

ASIC also acknowledged the difficulties growers have encountered in making their views known and said that a plan by the Timbercorp Growers Committee to appoint a temporary manager - otherwise known as a responsible entity - is feasible.

It says that if a temporary appointment was made, growers' fees would continue to accrue and funding arrangements would need to be put in place.

But in documents before the court, Mr Korda claims that to keep the projects alive through 2010 the growers need to stump up $195.9 million on top of their existing rent and project maintenance costs.

He says this is because harvest proceeds from next season's crops are expected to fall short of meeting costs the projects are likely to incur.

As liquidator of 41 Timbercorp companies, Mr Korda and his assistant Leanne Chesser are acting for both the growers and a syndicate of banks that advanced $200 million to Timbercorp to fund land purchases outside Robinvale and Boort in the state's north.

Mr Korda argues that his first responsibility is to seek the best possible solution for growers.

Last week Mr Korda told a growers' meeting that the almond and olive schemes were a cashflow nightmare because of the upfront charges projects incur before the crops can be harvested and generate earnings.

He told the meeting that even if outstanding rents and crop maintenance bills were paid the projects would remain in deficit.

Timbercorp subsidised growers' rent bills, by charging just 60 per cent up front and leaving 40 per cent outstanding as a debt on the company's books until after the crops were sold after each harvest.