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Timbercorp Almond Schemes

Company Name

Timbercorp Group of Companies (In Liquidation)

Type of Appointment

Liquidation

Date of Appointment

23 April 2009

Appointees

Craig Shepard and Leanne Chesser and Mark Korda and Mark Mentha

Liquidation Profile

Liquidation: 29 June 2009

Download Documents

Current Status

Annual Summaries for the year ended 30 June 2010 sent on 28 July 2010.

Distribution of 2008 and 2009 Harvest Proceeds

  • All expected proceeds from the 2008 and 2009 crops have been received
  • Distributions commenced in March 2010 and November 2011 for the 2008 and 2009 harvests proceeds respectively.
  • Where Grower Investors have loans outstanding with Timbercorp Finance Pty Ltd (In Liquidation) (‘Timbercorp Finance’), harvest proceeds may be placed on hold pending a determination in relation to the competing claims to the proceeds by Grower Investors and Timbercorp Finance. Grower Investors may direct their proceeds that have been placed on hold to be applied against their outstanding loan balance. To enquire about this, Grower Investors should contact Timbercorp Grower Management on 1800 628 188.

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.
  • The sale proceeds were being held on trust until proceedings in the Supreme Court determined the apportionment of the proceeds between secured creditors and Grower Investors. Judgment was delivered by the Supreme Court on 15 June 2011 and the sale proceeds were released to secured creditors in July 2011 in accordance with the court orders. The judgment was subsequently appealed on 11 July 2011.

Distribution Dates

Distribution Date Distributed
Distribution of Almond Harvest Proceeds 19 March 2010
Second Distribution of Almond Harvest Proceeds 29 November 2010

Interlocutory process and supporting affidavits

Affidavit and Exhibits - Christopher Garnaut 14 July 2009

2744kb

Affidavit of Christopher Littley - 2005 Almond (10 July 2009)

529kb

Affidavit of Christopher Littley - Millennium 3 (10 July 2009)

134kb

Affidavit of Constantine Moshopoulos - 2006 Almond (10 July 2009)

162kb

Affidavit of David Butterfield - 2007 ALmond Scheme (10 July 2009)

110kb

Affidavit of David Dunn – Align Proposal (15 July 2009)

453kb

Affidavit of Graham Goldenberg - 2002 Almond Scheme (10 July 2009)

93kb

Affidavit of John Huntley Knox - Almond Schemes (14 July 2009)

3176kb

Affidavit of Malcolm Weaver - 2003 Almond Scheme (10 July 2009)

575kb

Affidavit of Mark Bland - Almond Scheme (16 July 2009)

71kb

Affidavit of Michael Fernon (17 December 2009)

29kb

Affidavit of Owen Lennie - Almond Schemes (10 July 2009)

223kb

Affidavit of Pauline Hammer - Professional Investment Services (10 July 2009)

140kb

Affidavit of Peter Holt - 2001 Almond Project (10 July 2009)

79kb

Form 3 - Chris Littley - 2005 Almond Scheme (10 July 2009)

101kb

Form 3 - Constantine Moshopoulos - 2006 Almond (10 July 2009)

101kb

Form 3 - David Butterfield - 2007 Almond Scheme (10 July 2009)

106kb

Form 3 - Graham Goldenberg - 2002 Almond Scheme (10 July 2009)

104kb

Form 3 - Kerree Bezencon - 2004 Almond Scheme (10 July 2009)

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Form 3 - Malcolm Weaver - 2003 Almond Scheme (10 July 2009)

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Form 3 - Peter Holt - 2001 Almond Scheme (10 July 2009)

101kb

Interlocutory Process (17 December 2009)

64kb

Reply Affidavit of Stephen Lynch - Almond Schemes (15 July 2009)

756kb

Opposition's outline of submissions

Apportionment of the Net Sale Proceeds

New responsible entity of the Almond Schemes

Affidavit of Anthony Henry May (25 February 2010)

76kb

Affidavit of Mark Anthony Korda (24 February 2010)

1256kb

Exhibit MAK-1 (24 February 2010)

259kb

Exhibit MAK-10 (24 February 2010)

562kb

Exhibit MAK-11 (24 February 2010)

127kb

Exhibit MAK-12 (24 February 2010)

4167kb

Exhibit MAK-13 (24 February 2010)

644kb

Exhibit MAK-14 (24 February 2010)

188kb

Exhibit MAK-15 (24 February 2010)

1965kb

Exhibit MAK-16 (24 February 2010)

536kb

Exhibit MAK-17 (24 February 2010)

2014kb

Exhibit MAK-18 (24 February 2010)

214kb

Exhibit MAK-19 (24 February 2010)

234kb

Exhibit MAK-2 (24 February 2010)

902kb

Exhibit MAK-20 (24 February 2010)

1374kb

Exhibit MAK-21 (24 February 2010)

298kb

Exhibit MAK-22 (24 February 2010)

1671kb

Exhibit MAK-23 (24 February 2010)

972kb

Exhibit MAK-24 (24 February 2010)

2612kb

Exhibit MAK-25 (24 February 2010)

258kb

Exhibit MAK-26 (24 February 2010)

291kb

Exhibit MAK-27 (24 February 2010)

226kb

Exhibit MAK-28 (24 February 2010)

657kb

Exhibit MAK-29 (24 February 2010)

1365kb

Exhibit MAK-3 (24 February 2010)

146kb

Exhibit MAK-30 (24 February 2010)

379kb

Exhibit MAK-31 (24 February 2010)

333kb

Exhibit MAK-32 (24 February 2010)

264kb

Exhibit MAK-33 (24 February 2010)

1609kb

Exhibit MAK-34 (24 February 2010)

325kb

Exhibit MAK-35 (24 February 2010)

1475kb

Exhibit MAK-36 (24 February 2010)

177kb

Exhibit MAK-37 (24 February 2010)

1391kb

Exhibit MAK-38 (24 February 2010)

499kb

Exhibit MAK-4 (24 February 2010)

1935kb

Exhibit MAK-5 (24 February 2010)

2550kb

Exhibit MAK-6 (24 February 2010)

325kb

Exhibit MAK-7 (24 February 2010)

230kb

Exhibit MAK-8 (24 February 2010)

247kb

Exhibit MAK-9 (24 February 2010)

210kb

Originating Process dated (23 February 2010)

207kb

Scheme Meetings

At the Supreme Court hearing on Tuesday 21 July 2009, Justice Robson directed that the Liquidators were justified in causing TSL to call concurrent meetings for the members of the almond managed investment schemes. The following meeting date has been scheduled:

Date: Friday 31 July 2009
Registration: 9:30am AEDT
Meeting Commences: 10:00am AEDT
Location: Etihad Stadium, Victory Room Level 1, Gate 9, Docklands Melbourne
Webcast: Available from
http://www.brr.com.au/event/59061/excluding-timbercorp-securities-limited-administrators-appointed?popup=true

The meeting is to be chaired by Mr Matt Walsh, Special Counsel for Gadens Lawyers.