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 corporate regulator has cancelled the AFSL of a Queensland-based financial services provider, having held the licence since mid-2016.
Advisers need to closely scrutinise how much volatility exists in private assets during their portfolio construction and how this is demonstrated by the providers, according to commentators.
Consulting firm Bain & Company has shared how it believes the wealth management industry can be transformed and three questions firms should consider.
Prime Minister Anthony Albanese has confirmed who will succeed Stephen Jones to serve as the Assistant Treasurer and Financial Services Minister.
