The liquidators of Brierty have been given the all-clear to pursue $8.7 million in alleged preferential payments made before the contractor's 2017 collapse.
The Supreme Court has dismissed a defamation claim brought by former Quintis managing director Frank Wilson, after the trial judge said he was surprised by Mr Wilson's asserted lack of knowledge of the sandalwood producer's contracts.
The directors of Quintis have shed light on two restructuring proposals they had been trying to finalise, after announcing on Sunday they had placed the sandalwood producer in administration because of its inability to make a $37 million payment due in two weeks.
Embattled sandalwood producer Quintis has announced the purchase of $3 million of sandalwood from growers operating on plantations managed by the company.
Troubled sandalwood producer Quintis says its board intends to advise shareholders to vote against a series of resolutions to spill the board, while also announcing a one week extension on its forbearance agreement.
A group of Quintis shareholders has requisitioned a general meeting to spill three directors, including chairman Dalton Gooding, with avocado grower Craig Duncan, Kimberley Development Commission director Robert Boshammer and property developer John Allen nominating for roles.
Quintis chairman Dalton Gooding has come under fire from company founder and former chief executive Frank Wilson and other shareholders at a heated annual meeting today.
Brierty has signed a new facility and debt restructure agreement with Bankwest that is conditional on the company's rectification plan at Rio Tinto's Western Turner Syncline project being approved by the iron ore miner.
Ratings agencies Moody's and S&P have downgraded the debt of agribusiness Qunitis, while private equity fund Black Rock revealed it had taken a 5.1 per cent stake in the company.
Shares in sandalwood supplier Quintis were down 44 per cent today after the company admitted it had lost a contract supplying Nestle five months ago, the second issue relating to a contract this year.
An extraordinary twist has emerged in the Quintis saga, with founder and managing director Frank Wilson resigning to work with an unnamed overseas corporation that is planning a takeover proposal of the Perth-based Indian sandalwood producer.
Perth company OTOC has joined TFS Corporation in receiving shareholder approval for a name change and rebranding, which both companies say will more accurately reflect their business models.
Peter McBain has stepped down as chief executive of mining and civil contractor Brierty after a series of financial and operational setbacks, and will be replaced by the company's chief operating officer.
Alan Bishop has spent 40 years building insurance broker EBM into a national player and worked through many business cycles over that time, but arguably none as tough as the current conditions in Western Australia.
The downturn in mining and construction activity in Western Australia has delivered a mixed bag of results for several contractors today, with the major surprise being a downgrade in MACA's revenue outlook.
Brierty has been unable to resolve a $9.1 million contract dispute with Main Roads WA ahead of today's deadline for it to lodge its financial results, with the civil and construction contractor rep
Director of sandalwood producer TFS Corporation Patrick O'Connor has resigned from the board today, just weeks after stepping down as chairman as the company continues a refreshing of the board.
TFS Corporation non-executive director Dalton Gooding has been promoted to the role of non-executive chairman after joining the company just one month ago, after Patrick O'Connor stood down from the role at a board meeting this morning.
Sandalwood producer TFS Corporation has appointed Gooding Partners founder Dalton Gooding as an independent non-executive director, effective immediately.
Investment company Katana Capital has raised $7.8 million through the issue of 8.4 million shares to sophisticated and professional investors at an issue price of 93 cents per share.
Biotech company Avita Medical has appointed a new chairman after shareholder outrage against the company's remuneration report last year claimed the scalp of former chairman Dalton Gooding.
William Dolphin has agreed to step down as chief executive of biotech company Avita Medical, and Dalton Gooding has resigned after announcing his intention to do so at the company's annual general meeting in November.
FEATURE: It has been a difficult year for many of WA's listed entities, but investors are backing the performance of most of the state's top executives.
FEATURE: The state's biotechnology sector is heating up as investors look for the next wave of investment opportunities amid waning resources investment.
Contracting group Brierty Ltd today announced its second profit revision in six weeks, slashing its forecast to $3.6 million after tax, and the resignation of founder Alan Brierty as managing director to focus on the operational side of the business.
Perth-based skins and burns treatment developer Clinical Cell Culture Ltd has announced Managing Director Troels Jordansen will be stepping down from his position as Chief Executive Officer, while Professor Fiona Wood has rejoined the board.
