TOD - Timbercorp Orchard Trust

[tims]

Hi

Appreciate it if anyone out there who owns Timbercorp Orchard Trust shares (bought as TODHA) can tell me what's happening - I've read that both properties have been sold but don't understand what the delay is in getting any money back.

Thanks

Tim

 

[Sjnoon71]

I also am interested in what's going on! Any news?

 

[drsmith]

Don't know about the Orchard Trust, but Timbercorp itself went belly up in 2009.

http://www.timbercorp.com.au/default.asp?Initialcontentid=10992

 

[tims]

I also am interested in what's going on! Any news?

I contacted the receivers and I believe (not 100% sure, it's complicated!) that the actual growers are after the money from the sale of the land/irrigation rights.
They go to court sometime later this year and the receivers are waiting on this hearing to go forward.
Not sure (again) but I think that TODHA shareholders will only get back 35 cents in the dollar so not a good investment!!
I think the only people who are going to make money out of this are the bl***dy lawyers