Bendigo and Adelaide Bank says it is looking forward to its day in court after law firm Macpherson and Kelly launched a second class action against failed agribusiness investment manager Great Southern.
Agribusiness TFS Corporation has received a boost to its share value after announcing it had signed a deal with a US-based institutional investor potentially worth $120 million over six years.
The ailing agricultural managed investment sector has claimed another victim with private Western Australian player Rewards Group falling into administration.
Elders has reported a $165 million first half loss, with improvement on its previous first half, and forecast continuing improvement in earnings in the second half if suitable rainfall levels are achieved in Western Australia.
Great Southern subsidiary Rural Funds Management has escaped the clutches of its failed parent, paying $15 million to buy out the collapsed agribusiness' 70 per cent stake.
The state government has announced a significant win for the state's wheat farmers and exporters with Saudi Arabia's sole importer amending tender specifications to allow Australian wheat to be imported into the country.
Constellation Wines, the Australian subsidiary of US-based Constellation Brands, has confirmed it has put the Amberley Estate in Margaret River on the market.
Tasmanian company Forest Enterprises Australia has become the third major agribusiness to be placed into administration in the past 12 months, after ANZ and the Commonwealth Bank made a move to recover funds.
The corporate watchdog has released a consultation paper aimed at improving disclosure to retail investors by responsible entities of agribusiness schemes.
The state government will transfer the popular Buy West Eat Best brand, which has helped consumers easily identify local produce, to industry including WA food growers, manufacturers and retailers.
Publicly listed agricultural property investment company, The Ark Fund, has announced a $55 million capital raising and an implementation agreement to effect its merger with private managed investment scheme player Rewards Group.
CBH Group has announced a rebranding of its core business units, to more accurately reflect its key objectives, as a result of the group's 77th Annual General Meeting held today in Perth.
Increased demand from Western Australia's existing co-operatives has prompted the state government to triple its co-operative loan scheme to $60 million.
CBH Group, one of Western Australia's largest businesses, is likely to remain a cooperative after WA farmers elected directors who are in favour of keeping its current structure.
Agribusiness TFS Corporation remains optimistic about its business despite the loss of confidence in the managed investment scheme market, as it today reported a slump in first half net profit.
Western Australian livestock made up almost 50 per cent of the country's export earnings in 2009 which reached a total of $996.5 million, the strongest returns in seven years according to national livestock industry groups.
The Forest Products Commission could undergo further restructures with a taskforce set up to investigate the sale of one of the commission's divisions.
Management of the scenic Araluen Botanic Park will return to the state government under the Department of Environment and Conservation (DEC), from the Western Australian Planning Commission (WAPC), under new arrangements announced today.
Thousands of Great Southern investors are facing substantial losses after forestry heavyweight Gunns opted against resurrecting the 2007 timber scheme.
Denmark-based businessman Steve Birkbeck is the new chairman of pearl farmer Atlas South Sea Pearl taking over from the listed entity's long standing director, George Snow after the latter sold almost 10 per cent of the company to the incoming chairman.
Out-of-pocket Great Southern investors are on the verge of installing Gunns to take over the defunct timber projects, after a lengthy meeting in Sydney today.
Great Southern receiver McGrathNicol has opted to wind up the olive schemes operated by the fallen agribusiness company after failing to overcome a stalemate with two of the biggest names in Western Australian horticulture.
The Pulpwood Plantations proposal to take over Great Southern timber schemes was withdrawn today before the official vote was to take place, as attention now turns towards rival bidder Gunns.
Tony Jack's bid to take control of Great Southern's timber schemes has caught the attention of the corporate regulator after projections contained in its proposal were deemed inappropriate.
Local forestry veteran Tony Jack has accused receiver McGrathNicol of using his bid for the collapsed Great Southern timber schemes to find a better deal for the bank creditors at the expense of out-of-pocket investors.
