More bad news on Timbercorp
The Timbercorp liquidators have confirmed that the company is not able to make interest payments on its bonds due at the end of September.
In an announcement to the Australian Securities Exchange today, the liquidators said there were insufficient funds to pay interest payments due on September 30 to Timbercorp 2004 Finance Bond (Class B) holders and that it would not be possible to repay the bonds by March 31 next year.
The announcement follows a statement earlier this week that the liquidators had sold Timbercorp’s almond assets to a Singapore interest for $128 million.
AUTHOR
Mike Taylor
Recommended for you
The new financial year has got off to a strong start in adviser gains, helped by new entrants, after heavy losses sustained in June.
Michael McCorry, chief investment officer at BlackRock Australia, has detailed how investors are reconsidering their 60/40 portfolios as macro uncertainty highlight the benefits of liquid alternatives.
Having reset its market focus to high-net-worth advisers, Praemium’s administration solution has been selected by Bell Potter in a deal that increases the platform's funds under administration by $6 billion.
High transition rates from financial advisers have helped Netwealth’s funds under administration rise by $3.7 billion in the fourth quarter of FY25.
