find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Great Southern forestry deal completed at last

Great Southern forestry deal completed at last

Canadian pension fund Alberta Investment Management Corp (AIMCo), together with the Australia and New Zealand Forest Fund (ANZFF), have paid $415 million for the forestry land of collapsed…

Canadian pension fund Alberta Investment Management Corp (AIMCo), together with the Australia and New Zealand Forest Fund (ANZFF), have paid $415 million for the forestry land of collapsed managed investment schemes operator Great Southern.

New Forests Pty Limited, a Sydney-based timber investment management firm, will manage the estate on behalf of AIMCo and ANZFF and the assets have been acquired from the receivers and managers of Great Southern.

Minter Ellison acted for the vendor, with Clayton Utz acting for the purchaser.

At the time of its collapse in 2009, Great Southern was the largest MIS operator in Australia, operating 45 schemes with about 43,000 investors. More than 600 properties and over 1500 titles across Australia were involved, mostly comprising forestry plantations under multi-layered land tenure arrangements.

The sale involved about 269,000 hectares of land assets across South Australia, Western Australia, New South Wales, Queensland, Victoria and Tasmania and is the largest private forestry sale by area in Australia.

According to Minter Ellison, the completion of the sale was the culmination of more than 18 months' work by the firm and marks a significant milestone in the receivership of the Great Southern Group.

"The timeframe for getting the deal done largely reflects the complexity of the assets, the geographic diversity of the properties - assets were located across Australia - and the sheer number of titles and encumbrances," said Brendon Watkins, Minters' restructuring & insolvency lead partner.

Along with Watkins, the Minters team was led by Nick Anson, Carolyn Reynolds and Don MacCallum.

Matt Anderson and Peter MacMahon led the Clayton Utz team.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Great Southern forestry deal completed at last
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
microphone
Oct 20 2017
Podcast: One of law’s most infamous alumni – in conversation with Julian Morrow
In this episode of The Lawyers Weekly Show, Melissa Coade is joined by The Chaser’s Julian Morrow....
protest
Oct 20 2017
High Court overturns ‘excessive’ anti-protest legislation
Bob Brown’s recent victory in the High Court over the Tasmanian government was a win for fundament...
Blocked
Oct 20 2017
Changes to Australian citizenship laws blocked
Attempts to beef up the requirements to obtain Australian citizenship were thwarted this week, after...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...