Timbercorp Almond Apportionment Hearing Updates

Company Name

Timbercorp Group of Companies (In Liquidation)

Type of Appointment

Creditors’ Voluntary Liquidation

Date of Appointment

23 Apr 2009

Appointees

Craig Shepard, Leanne Chesser, Mark Korda and Mark Mentha

Former Appointment Details

Liquidation: 29 June 2009

Appointment Contact

Timbercorp Hotline
T: +61 3 8623 3333

Relevant links
Creditors forms and information - Australia
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Purpose

The purpose of this page is to provide a central point of contact for the distribution of information to Grower Investors who have invested in the Almond Schemes for which Timbercorp Securities Limited (In Liquidation) (“TSL”) acts as Responsible Entity (“RE”). The documents and information provided on this page will be updated on a regular basis. Grower Investors are urged to check this page in the first instance should they have any queries or would like an update as to the status of the Almond Schemes.

Current Status

Sale of Assets
  • The Timbercorp owned almond orchards and attached water rights have been sold to Olam International Group for approximately $128 million. The sale was completed on 2 December 2009.
  • These sale proceeds are being held on trust until proceedings in the Supreme Court determine the apportionment of the proceeds between secured creditors and Grower Investors. The hearing commenced in February 2011 with final submissions heard on 22 March 2011. By the order of the Court, Clarendon Lawyers were funded from the sale proceeds to represent Grower Investors.
  • Judgment was delivered by the Supreme Court on 15 June 2011 and was subsequently appealed on 11 July 2011.

Document downloads

Judgement of 15 June 2011

Court Proceedings