Former Quintis director Graeme Scott has had an early victory in his defamation battle with several of the company's most senior executives, with the Supreme Court ruling there should be no restriction on his access to one of the documents at the centre of the case.
Quintis and several of its senior executives are facing defamation action at the hands of the company's former director, a claim it intends to vigorously defend.
Over 99 per cent of Doray Minerals' shareholders have voted in favour of the company's proposed $615 million merger with fellow locally-based gold miner Silver Lake Resources.
The $145 million Quintis recapitalisation deal was completed today, handing control of the sandalwood company to its creditors, led by US group Blackrock.
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.
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.
Sandalwood producer Quintis has revealed more operational and financial pain, with the embattled Perth company suspending plantation sales, lowering forecast product sales and admitting a $27 million investment would not proceed.
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.
Former BHP Billiton executive Julius Matthys has been named interim chief executive of Quintis, after Frank Wilson resigned on Tuesday to plot a takeover of the Indian sandalwood producer.
Doray Minerals chief operating officer Peter Bamford has become the latest senior departure from the firm, following the recent exit of its CEO and chairman.
Former BHP Billiton executive Julius Matthys has been appointed chairman of gold miner Doray Minerals, replacing Peter Lester who retired last month to focus on his other business interests.
Sport is taking over business in Perth as the AFL finals loom, with the ‘Go Freo' sign on Woodside Plaza rivalled by a ‘Go Eagles' sign on BHP Billiton's home at Brookfield Place, while the mining giant also committed to a new investment at the under-construction Perth Stadium.
Independent schools across the state are benefiting from the experience some of Perth's most prominent business leaders have brought to their boards, providing greater diversity and structure to the decision-making process.
Almost all of Western Australia's independent schools have increased their fees and enrolled slightly more students than last year, according to Business News' Book of Lists research.
Sandalwood producer TFS Corporation has announced a record net profit after tax of $55.7 million for the year ended June 30 and appointed a new chairman.
