Agreed that the only responsibility of Receivers is to look...

Agreed that the only responsibility of Receivers is to look after secured creditors.

Directors have been negligent in allowing these debts to accumulate and at the same time acquiring more landholdings, when they should have been focusing on recapitalisation and consolidating existing landholdings. I suspect Frank Wilson did not wish to do this as it would probably have diluted his shareholding and control of the company. In his quest to maintain control, he has finished up losing everything anyway.

Pursuing the Directors may eventually lead to a small recovery at best, taking into account their personal financial positions, insurance cover and protracted and costly litigation.

These plantations are a valuable national asset sustained by the Ord River Irrigation Scheme, a project that has been heavily funded by Australian taxpayers. Where are the politicians and ASIC in our hour of need?

This pick-pocketing of a national treasure by foreign interests needs to be stopped dead in its tracks.