What next for Quintis Growers, page-3

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Stubby

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22/01/18

18:25

Post #: 30478015
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Originally posted by Stubby ↑

Its accepted that the shareholders will get noting from a VA and in turn liquidation of the company process moves forward.

But What will happen to the growers?
Are their leases terminated immediately by the insolvency event?
Will the trees get tendered and looked after? And who will do this? And what will be the cost if any?
Are the growers expected to continue to pay service and lease fees?
Most of the growers have the option not to pay fees after 3 years once the trees are established, is this still the case?
What happens to the tax deduction the investors got for becoming grower?

Lets hear something for the Growers

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Originally posted by Stubby ↑

Its accepted that the shareholders will get noting from a VA and in turn liquidation of the company process moves forward.

But What will happen to the growers?
Are their leases terminated immediately by the insolvency event?
Will the trees get tendered and looked after? And who will do this? And what will be the cost if any?
Are the growers expected to continue to pay service and lease fees?
Most of the growers have the option not to pay fees after 3 years once the trees are established, is this still the case?
What happens to the tax deduction the investors got for becoming grower?

Lets hear something for the Growers

Expand

From the Grower Prospectus- Who is going to be the Responsible Entity now??? and deferment of Rent and Management Fees

Insolvency scenario

"If TFS Properties is replaced as the responsible entity of the Project in the event of insolvency, the Replacement Responsible Entity may require that Growers cannot elect the Annual Deferred Investment Option going forward. This means each Grower will be required to pay the Rent going forward as set out in Table 3A to the Replacement Responsible Entity. This insolvency scenario is designed to facilitate, if the Responsible Entity is insolvent, the Project having sufficient funds available to meet the ongoing costs. There is no certainty that the Project will continue if TFS Properties becomes insolvent."

Maybe its best they review all the projects and state honestly which ones are really viable and then make an informed decision from there.

QIN Price at posting: 29.5¢ Sentiment: None Disclosure: Not Held
5 Upvote

0 Great analysis

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