More bad news on Timbercorp
The Timbercorp liquidators have confirmed that the company is not able to make interest payments on its bonds due at the end of September.
In an announcement to the Australian Securities Exchange today, the liquidators said there were insufficient funds to pay interest payments due on September 30 to Timbercorp 2004 Finance Bond (Class B) holders and that it would not be possible to repay the bonds by March 31 next year.
The announcement follows a statement earlier this week that the liquidators had sold Timbercorp’s almond assets to a Singapore interest for $128 million.
AUTHOR
Mike Taylor
Recommended for you
A relevant provider has received a written direction from the Financial Services and Credit Panel after a superannuation rollover resulted in tax bill of over $200,000 for a client.
Estimates for the calendar year 2024 put the advice industry on track for a loss in adviser numbers as exits offset gains from new entrants.
Adviser Ratings shares five ways that financial advice changed in 2024 with an optimistic outlook for 2025, thanks to the Delivering Better Financial Outcomes legislation.
National advice firm Invest Blue has announced several acquisitions, including the purchase of an estate planning and wealth protection business Lambert Group.
