Gunns investors back bank takeoverFriday 31 May 2013 A plan by Gunns' liquidator to sell the failed timber company's plantation schemes has been rejected by investors reports ABC News this week. Liquidator PPB Advisory wants to include Gunns' managed investment schemes in a sell-off of the company's assets. The Macquarie Group is trying to take control of nine schemes, worth AU$500 million. Investors, or growers, have voted overwhelmingly in favour of the bank's takeover. Macquarie still needs to convince the Victorian Supreme Court the deal is in the best interests of growers. If approved, it means six of the schemes will continue and PPB Advisory will not be able to include them in a sell-off of the company's assets. |
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