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Receivers Lien

As discussed in the General Meeting Booklet, McGrathNicol as the Receivers and Managers (Receivers) of the Great Southern Schemes (Schemes) incurred expenses in the care, preservation, protection and realisation of Scheme property in relation to the Schemes. The Receivers have an entitlement to a lien over the Schemes' property and the product thereof, for their reasonable expenses and reasonable remuneration (Receivers' Lien).

The amount of the reasonable expenditure and reasonable remuneration secured by the Receivers' Lien will be deducted from the gross sale proceeds of harvest (Harvest Proceeds) for the Scheme to which the expenditure relates.

The Receivers made applications to the Supreme Court of Victoria to determine the amount of expenditure and remuneration secured by the Receivers' Lien.

As discussed in the General Meeting Booklet, and as part of the Gunns Proposal under the Implementation Agreement, Gunns Plantations Limited (GPL) has agreed to purchase the right to be paid the amount of the Receivers' Lien out of Harvest Proceeds.

In summary, the purchase by GPL of the Receivers' Lien is subject to the Supreme Court of Victoria determining:

• the amount of the expenditure and remuneration to which the Receivers are entitled under the Receivers' Lien;
  
• the manner in which the expenditure and remuneration may be recovered from Harvest Proceeds;
  
• that the sale of the Receivers' Lien to GPL will be effective; and
  
• that upon the purchase of the Receivers' Lien by GPL, the amount of the Receiver's Lien will be recoverable by GPL from Harvest Proceeds.
  

This process has been finalised.

Please see below the documents which were filed in the court proceedings in relation to the Receivers' Lien.

If you wish to contact the Receivers' representatives about this matter, their contact details are as follows:

Jane Salveson / Nick Anson
Minter Ellison Lawyers
Rialto Towers
525 Collins Street
Melbourne VIC 3000

T (03) 8608 2918
F (03) 8608 1075

The two documents detailing the final Receivers Lien are the ones entitled:

• Judgement of Justice Davies – 30th August 2011; and
• Orders made by Justice Davies on 30th August 2011.

Refer to links below.

Receivers Lien Originating Process (PDF 540kB)   First Affidavit of James Gerard Thackray (PDF 14.8MB)       Exhibits of First Affidavit of James Gerard Thackray - 1       Exhibits of First Affidavit of James Gerard Thackray - 2   Second Affidavit of James Gerard Thackray (PDF 3.1MB)       Exhibits of Second Affidavit of James Gerard Thackray - 3       Exhibits of Second Affidavit of James Gerard Thackray - 4   Supreme Court Orders from 6th May 2011 hearing (PDF 230kB)   Third Affidavit of James Gerard Thackray (PDF 7.9MB)       Exhibits of Third Affidavit of James Gerard Thackray   Fourth Affidavit of James Gerard Thackray (PDF 5.6MB)   Affidavit of Ian Martin Blanden (PDF 170kB)   Affidavit of Jane Louise Salveson (PDF 382kB)       Exhibits of Affidavit of Jane Louise Salveson   Second Affidavit of Jane Louise Salveson (PDF 217kB)   Supreme Court Orders - 3 June 2011 (PDF 585kB)   Supreme Court Orders - 8 July 2011 (PDF 446kB)   Appendix 1: Summary of Receivers Lien Claim (PDF 230kB)   Judgement of Justice Davies - Supreme Court of Victoria hearing 25th-26th July 2011 (PDF 10.9MB)   Judgement of Justice Davies - 30th August 2011 (PDF 2.4MB)   Orders made by Justice Davies on 30th August 2011 (PDF 2.4MB)