Creditors of Forest Enterprises Australia (FEA), an agribusiness company that recently went into receivership, have voted to retain the services of BRI Ferrier as administrators at their first creditors meeting.
FEA’s financiers, the Commonwealth Bank and ANZ, might still seek to have Korda Mentha appointed as administrators.
There are 16 schemes still in operation and the first priority of BRI Ferrier is to do everything possible to keep the business operational and to try and get the best value for investors, according to a BRI Ferrier spokesperson.
The next step is to go through several expressions of interest and look at any other options that might be available for a partial or full restructure.
