Chance for investors

FOREST Enterprises Australia investors may start to see at least some of their money returned to them after expressions of interest close next week on its vast forestry plantations and freehold land assets.

The company went into voluntary administration almost four years ago with a debt of more than $200million.

A creditors meeting in 2011 heard that the net value of FEA's managed investment scheme was $100 million, although 13,000 investors had put in $430 million.

About 46,000 hectares of forestry plantations and more than 97,000 hectares of freehold land in Tasmania, Queensland, New South Wales and the Northern Territory were put on the market in December.

The land is dispersed across 400 properties and over 1000 different titles.

Expressions of interest on the assets close on January 24 and the initial bids are due in February.

The sale process will be handled by Gresham Investment House.

The company's receiver Deloitte said all sale options would be considered, including asset sales in one parcel, or separate sales in smaller parcels.


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