19 Jun

Timbercorp : High costs dampen almond, olive takeovers

The administrator for failed agribusiness giant Timbercorp has been given approval by the Victorian Supreme Court to apply to wind up the company’s olive and almond schemes. KordaMentha wants to end the schemes to make it easier to sell the 13 almond projects and 11 olive groves in northern Victoria. Spokesman Michael Smith says a […]

06 Jun

Viability of Timbercorp’s forests in doubt

The administrators of troubled agricultural projects manager Timbercorp say they have not yet determined if the company’s forestry projects are still viable, or insolvent like its olive and almonds projects. Timbercorp was placed in administration in April, with liabilities estimated at the time of $930 million. Mark Korda of administrator KordaMentha said on Thursday that […]

21 May

Australian Olive industry says MIS collapses won’t hold it back

The Australian Olive Association says the demise of orchard managers Timbercorp and Great Southern does not spell the end of the olive industry. Managed investment schemes account for the majority of Australian olive production, and sparked the industry’s rapid growth over the past decade. The Olive Association’s Paul Miller says the industry is now big […]

16 May

Back to Business for Timbercorp Olives

By Sandra Godwin, The Boundary Bend olive harvest was under way this week after a halt caused by Timbercorp’s financial woes. After a three-day shutdown, workers at Timbercorp olive groves at Boort and Boundary Bend got back to the business of harvesting olives last week. The harvest ground to a halt earlier in the week […]

09 May

Australia: Timbercorp olives sold to harvester

By Rachel Hewitt, The harvesting of Timbercorp’s giant olive crop will resume this morning after the company struck a $15 million deal to sell the fruit to its harvester. The fate of this year’s crop – at two olive groves in northern Victoria – was uncertain after the company’s April 23 collapse. The harvest must […]