What happens in Timbercorp can be replicated in the near future...

What happens in Timbercorp can be replicated in the near future for Great Southern Plantations.Interestingly how does a judge evaluate what I think and at what cost to me.
Reminds of those stories of the 1st World War,and the decision making left to a handful.

The AGE-business section
Timbercorp judge nuts out solution Ruth Williams
August 19, 2009
A VICTORIAN Supreme Court judge has indicated he would allow liquidators of Timbercorp to conduct a ''de facto'' wind-up of the failed company's almond investment projects, a move that could give investors some return if a sale or recapitalisation deal is struck.

At a hearing yesterday, Justice Ross Robson rejected a winding up application for the almond schemes brought by Timbercorp's liquidators, KordaMentha. He instead supported what he dubbed a ''de facto wind-up'' solution, which involved changing the schemes' constitutions to give KordaMentha the option of terminating investors' subleases on the almond orchards if a sale or recapitalisation deal - that was beneficial to investors - was struck.

The hearing, the latest of a series of legal wrangles to follow Timbercorp's collapse in late April, came after a vote by almond schemes investors last month to continue the schemes rather than see them wound up. After the vote, KordaMentha advertised for parties interested in either buying or recapitalising the schemes.

According to an affidavit filed this week, KordaMentha's Mark Korda had already received a number of expressions of interest in advance of the deadline of August 28. But he said he was concerned that unless the almond schemes were wound up ''interested parties will not be willing to engage in the sale or recapitalisation process''.

Mr Korda added that he did not believe that ''the making of a winding-up order will automatically terminate the grower's interests in the almond schemes.'' But that stance was contested in court yesterday by counsel representing the Timbercorp growers' group.

Ian Waller SC, counsel for the Australian Securities and Investments Commission, noted that there were ''clearly some uncertainty about the consequences of court making a winding-up order''. He said ASIC would support giving KordaMentha the power to broker a sale while ensuring ''the interests of the growers are protected, and the value that may ultimately flow to the growers is preserved and calculated at a later date''.