by Gavin Bateman 27 November 2009Taxpayers who invested in either a Timbercorp or Great Southern managed investment scheme are now well aware of the fact that: - Timbercorp was originally placed into voluntary administration and is now in liquidation; and - Great Southern was also placed into voluntary administration with several of its subsidiaries also having ‘receivers and managers’ appointed. The main reason for the [...]
Read the full article → by Fiona Bateman 30 October 2009The collapse of Timbercorp’ Great Southern has hurt Financial Planners. Asset – The Financial Planning Professional Magazine editor stated that Professional Investment Services Ltd (PIS) did not throw an end of financial year party as they have missed out on more than $15 million in advance commissions from the sale of the agribusiness managed investment schemes.
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