Tasmanian Times

Environment

Director John Young in Great Southern debt deal

AUSTRALIAN

THE founder and former managing director of the failed $3billion Great Southern agribusiness empire could make millions of dollars from a deal completed weeks before the company was placed into administration. Read more here

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2 Comments

2 Comments

  1. William Boeder

    June 6, 2009 at 2:34 pm

    So this is what MIS involvement is all about, another of those money up front schemes that inevitably screws the punter and the tax department.
    Strange it is not, to find that Gunns Ltd are operational in this form of questionable business activity, upwards of 500 million dollars has flowed their way from their dalliances into this type of business.

    I wonder what value remains as equity for these investors who leapt on to this Eric Abetz plugged sustainable industry?
    A lot of Tasmanian tax dollars have also found their way into the coffers of this tax-revenue swilling company of Gunns Ltd and most likely still does.
    Somewhere behind all this is the inevitably predictable State government support, along with a particular Macquarie Street Hobart financial advisory institution that plugs investment into Gunns Ltd MIS river of plenty for them, revenues.

  2. salamander

    June 5, 2009 at 7:15 pm

    Not surprising then that investors are being told to keep paying!

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