IN THE MATTER OF GUNNS PLANTATIONS LIMITED (IN ...

IN THE SUPREME COURT OF VICTORIA AT MELBOURNE 

COMMERCIAL AND EQUITY DIVISION 

COMMERCIAL COURT 

scr 2012 s48s 

IN THE MATTER OF GUNNS PLANTATIONS LIMITED (IN 

ADMINISTRATIONXRECEIVERS AND MANAçERS APPOINTEDXACN 091 232 209) in 

its capacity as responsible entity of the managed investment schemes listed in schedule I 

DANIEL MATTHEW BRYANT,IAN MENZIES CARSON AND CRAIG DAVID CROSBIE 

(in their capacities as joint and several Voluntary Administrators of GUNNS PLANTATIONS 

LIMITED (ADMINISTRATORS APPOINTEDXRECEIVERS AND MANAGERS 

APPOTNTEDXACN 091 232 209)) 

and 

First Plaintiffs 

GUNNS PLANTATIONS LIMITED (ADMINISTRATORS APPOINTEDXRECEIVERS 

AND MANAGERS APPOINTEDXACN 09f ?3.2209) in its capacity as responsible entity of 

the managed investment schemes listed in schedule I and ors as set out in schedule 2 

Second Plaintiff 

AFFIDAVIT OF PETER McKENZIE ANDERSON 

Date of document 28 November 2012 

Filed on behalf of Australian Executor Trustees Limited as trustee for the Australian Forest 

Plantations Trust (Receivers and Managers Appointed) and Wesley Vale Engineering Pty Ltd 

(Administrators Appointed)(Receivers and Managers Appointed) as trustee for the Australian Forest 

Plantations Trust Number 2 (Receivers and Managers Appointed) 

Prepared by 

MINTER ELLISON 

Lawyers 

Rialto Towers 

525 Collins Street 

MELBOURNE VIC 3OOO 

Solicitors Code 8510 

DX2O4 MELBOURNE 

Telephone (03) 8608 2000 

Facsimile (03) 8608 1000 

Reference BRW 30-75901 58 

Brendon Watkins 

(brendon.watkins@minterellison. com) 

I, PETER McKENZIE ANDERSON of Level 8, 60 City Road, Southbank, Melbourne, in the State 

of Victoria, Certified Practising Accountant, make oath and say as follows 

0 

1 I am, together with Shaun Robert Fraser, the joint and several receiver and manager ol 

l\,1F, t025tô443 3 (W2007) 

CAITLIN PAIGE FANKHAUSER 

525 Collins Street, Molbourne 

An Legal Practitioner within the 

meaning of the Logal Profession Act 2004

2 

(a) 

Australian Executor Trustees Limited as trustee for the Australian Forest 

Plantations Trust (Receivers and Managers Appointed) (AFPT); and 

(b) 

Wesley Vale Engineering Pty Ltd (Administrators Appointed)(Receivers and 

Managers Appointed) (Wesley Vate) as trustee for the Australian Forest 

Plantations Trust Number 2 (Receivers and Managers Appointed) (AFPT2); 

2. I am authorised to make this affrdavit on behalf of Shaun Robert Fraser. 

3. Except where I otherwise indicate, I make this affidavit from my own knowledge. 

Purpose of Affïdavit 

4. 

I make this affrdavit in support of an Interlocutory Application by AFPT and AFPT2 

seeking leave of the Court pursuant to section 4408(2) of the Corporations Act 2001 (Cth) 

(Act) to take possession of the land identified in their Interlocutory Process dated 28 

November 2012, filed in this proceeding. 

5 I also make this affidavit on behalf of AFPT and AFPT2 as interested parties in the First 

and Second Plaintiffs application for orders, including: 

(a) 

an order that Part 5.34 of the Act will operate in relation to Gunns Plantations Ltd 

(Receivers & Managers Appointed) (Administrators Appointed) (GPL) and those 

Gunns Group Companies that lease property from a third party and sub-lease 

property to GPL for the purposes of the Gunns Woodlot Schemes or the Great 

Southern Schemes as if the period under s4438(2)(a) of the Act is "31 January 

2013 or the date of the meetings of the ueditors of the Gunns Group Companies 

to be convened under s439A, whichever is earlier"; and 

(b) 

an order that Part 5.34 of the Act will operate in relation to GPL as if s4438(3) of 

the Act provides that "by January 20I 3 or the date of the meetings of ueditors of 

the Gunns Group Companies to be convened under s439A of the Act, whichever is 

earlier, the Administrators may give to the owner or lessor a notice that specifies 

the property and states that the company does not propose to exercise rights in 

e 

relation to the property". 

CAITLIN PAIGE FANKHAUSEB 

525 Collins Street, Melbourne 

An A.ustralian Legal practitioner within the 

t, u-._1;,i ilg,.o¿l ! j*lp,g t p rof es s i o n Acr 2004

J 

6. AFPT and AFPT2 oppose the application insofar as it relates to the orders sought in respect 

of section 4438 of the Act as outlined in the paragraph above. 

7 

If granted, these orders would materially prejudice both the receivers and managers and 

secured creditors of AFPT and AFPT2. In particular: 

(a) 

our ability to discharge our duties as receivers and managers and pursue a timely 

sale of the land owned by AFPT and AFPT2 (AFPT Land) would be impeded; 

(b) 

AFPT and AFPT2 would be deprived of any income from their sole assets, and thc 

receivers and managers of AFPT and AFPT2 would be without funds to meet their 

own costs and expenses, including remuneration; and 

(c) 

it appears that no fire and regulatory compliance works may be carried out on the 

plantations on the AFPT Land to the extent those plantations are unrelated to any 

managed investment schemes during the period. This gives rise to serious 

concems for the receivers and managers of AFPT and AFPT2 as to potential 

personal liability if we are required to wait until the end of the convening period to 

take possession of the AFPT Land. 

I 

Further, it is likely that the orders, if granted, would be futile in circumstances where the 

head leases granted to Gunns Ltd (Administrators Appointed)(Receivers and Managers 

Appointed) (Gunns) over the AFPT Land have been terminated and there is no evidence 

that either the First Plaintifß, or the parties interested in replacing GPL as responsible 

entity of the relevant managed investment schemes, are willing to take the steps required to 

re-instate the head leases. In particular, ensuring pa¡rrnent of all outstanding amounts under 

the leases and guaranteeing payment going forward. 

Appointment 

9 Shaun Fraser and I were appointed as receivers and managers of AFPT and AFPT2 on 28 

September 20l2by ANZ Fiduciary Services Ltd. 

Now produced and shown to me marked rrPA-lrr is a true copy of the relevant Deeds of 

Appointment. 



An Australian Legal practitioner within the 

nnean ing olstherL:agahProfession Acl 2004

4 

10. 

I have practised as a chartered accountant since November 1995. I have been a partner in 

the firm McGrathNicol since its foundation in 2004 and became an offrcial liquidator in the 

same year. 

11. 

I have significant experience as a receiver and manager of entities conducting forestry and 

horticultural managed investments schemes, as well as associated land holding entities. In 

particular,I was appointed as joint and several receiver and manager of certain entities in 

the Rewards Group, as well as an associated entity, Ark Fund Limited. 

Background of AFPT and AFPT2 

t2 AFPT and AFPT2 are land trusts which were established by Gunns in2007 and 2008 

respectively for the purpose of ensuring that the Gunns Group had access to approximately 

10,000 net plantable hectares of land per annum in2007 and 2008 to develop as timber or 

pulpwood plantations. 

13 The trustee of AFPT is an independent corporate trustee entity, Australian Executor 

Trustees Ltd and the beneflrcial owners of AFPT are: 

(a) Gunns (approximately 30%); 

(b) 

Plantation Tropical Timbers Ltd (approximately 50%); and 

(c) PF Olsen TISA Pty Ltd (approximately 20%). 

14. 

Plantations Tropical Timbers Ltd and PF Olsen TISA Pty Ltd are entities unrelated to the 

Gunns Group. 

15. 

AFPT owns 16,963 hectares of land situated in Tasmania. All of the land owned by AFPT 

is mortgaged in favour of ANZ Fiduciary Services Ltd as security trustee of the Australian 

Forestry Plantations Security Trust. 

T6, 

The trustee of AFPT2, Welsey Vale, is an entity within the Gunns Group and the beneficial 

owner of AFPT2 is Gunns. 

t7 

AFPT2 owns 4,814 hectares of land situated in Tasmania. All of the land owned by 

AFPT2 is either mortgaged in favour of ANZ Fiduciary Services Ltd as security trustee of 

the 

Trust Number 2 Security Trust (ANZFS atf 

C 

N,f ti t02.s t6443 3 (w2007) 


Practitioner within the 

of the 

Act 2004

5 

AFPT2ST), or is the subject of a general security agreement executed by Wesley Vale in 

favour of ANZFS atf AFPT2ST. 

Leasing Structure 

AFPT Head Leases 

18 

Wesley Vale, as the then trustee of AFPT, entered into the following eight head leases with 

Gunns: 

(a) 

lease dated l0 September 2007 and registered with the Tasmanian Land Titles 

Offrce as dealing number C825284, commencing 31 August2007 and ending on 

30 June 2022; 

(b) 

lease dated 31 August 2007 and registered with the Tasmanian Land Titles Office 

as dealing number CBl9l26, commencing 31 August2007 and ending on 30 June 

2022; 

(c) 

lease dated 15 June 2007 and registered with the Tasmanian Land Titles Offrce as 

dealing number C774383, commencing 15 June 2007 and ending on 30 June 

2022; 

(d) 

lease dated l2 July 2007 and registered with the Tasmanian Land Titles Office as 

dealing number C774380, commencing 12 July 2007 and ending on 30 June 2022; 

(e) 

lease dated 10 May 2007 and registered with the Tasmanian Land Titles Office as 

dealing number C797172, commencing 10 May 1997 and ending on 30 June 

2022; 

(Ð 

lease dated 29 ApriI2008 and registered with the Tasmanian Land Titles Offrce as 

dealing number Cl88816, commencing29 April2008 and ending on 30 June 

2022; 

(e) 


dealing number C788335, commencing2í June2007 and ending on 30 June 

(-l 

2022; and 


52S Collins Street, Melbourne 

An Alr.stralian Legal practitíoner witfrin tne 

ríìv*ärrrrì9.9,itf ì,ahppgl,F.l,Q|Fss¡ontctzoiai

6 

(h) 

lease dated 2 February 2007 and registered with the Tasmanian Land Titles Offrce 

as dealing number C771505, commencing 5 February 2007 and ending on 30 June 

2022, 

(collectively referred to as the AFPT Head Leases). 

I9 

The rent that is payable under the AFPT Head Leases totals approximately $4,827.716 per 

annum, and is payable quarterly in arrears on 31 March, 30 June, 30 September and 31 

December. 

20 

Save for the 2,231 hectares of land the subject of the leases referred to in paragraph 1 8 (a) 

and (b) above, Gunns then sub-leased the land to Gunns Plantations Ltd (Receivers and 

Managers Appointed)(Administrators Appointed) (GPL). Of the 14,732 hectares of AFPT 

land sub-leased to GPL, only 7,330.8 hectares has been planted with timber relating to 

managed investment schemes. The remaining land is either unencumbered by forestry 

plantations or is encumbered with plantations owned by Gunns, or an entity within the 

Gunns Group, or the Tamar Tree Farms Joint Venture. 

AFPT2 Head Leases 

2r. 

Wesley Vale, as trustee of AFPT2, has entered into the following five head leases with 

Gunns: 

(a) 



2030; 

(b) 

lease dated 25 June 2008 and registered with the Tasmanian Land Titles Offlrce as 


2023; 

(c) 

lease dated 2l August 2009 andregistered with the Tasmanian Land Titles Office 

as dealing number C850855, commencing 21 September 2009 and ending on 30 

June 2023; 

CAITLII.J PAIGE FANKHAUSER 


An Australian Legal Practitioner within the 

nreaning of the Legal Profession Act 2004 

tvtu t02"s t6443 3 (w2007)

7 

(d) 

lease dated 17 March 2009 and registered with the Tasmanian Land Titles Office 

as dealing number C903291, commencing 17 March 2009 and ending on 30 June 

2030; and 

(e) 

lease dated 17 March 2009 and registered with the Tasmanian Land Titles Office 

as dealing number C903292, commencing 17 March and 2009 ending on 30 June 

2023, 

(collectively referred to as the AFPT2 Head Leases). 

22. 

The rent that is payable under the AFPT2 Head Leases totals approximately $2,242,894 per 

annum, and is payable quarterly in arrears on 31 March, 30 June, 30 September and 31 

December. 

23 

The entire 4,814 hectares of land the subject of the AFPT2 Head Leases has been subleased 

to GPL by Gunns. Of that, only 2,792 hectares is encumbered by plantations 

relating to managed investment schemes. The remaining land is either unencumbered by 

forestry plantations or is encumbered with plantations owned by Gunns, or an entity within 

the Gunns Group, or the Tamar Tree Farms Joint Venture. 

The Plaintiffs' First Application for an Extension of the 4438 Period 

24. The First and Second Plaintifß made an application to this Honourable Court on 2 October 

2012 seeking orders in this proceeding, including that: 

(a) 

Part 5.34 of the Corporations Act 2001 (Cth) (Act) is to operate in relation to 

each of the Gunns Companies as if the period under saßBQ)@) of the Act 

provided in relation to each of the companies in the Gunns Group "that begins 

after 30 November 2012 or the date of the meetings of the creditors of the Gunns 

Group Companies to be convened under s439A, whichever is earlier"; and 

(b) 

Parl 5.34 of the Act is to operate in relation to each of the Gunns Companies as if 

s4438(3) of the Act provided in relation to each of the companies in the Gunns 

Group "by 30 November 2012 or the date of the meetings of creditors of the 

o 

Gunns Group Companies to be convened under s439A of the Act, whichever is 

earlier, the Administrators may give to the owner or lessor a notice that specifies 


525 Gollins Street, Melbourne 

A n A usl ral i an. !.egela Fraotitione r with in th e 

mcraning of lhe Leç¡al Profession Acl2OQ4

8 

the property and states thqt the company does not propose to exercise rights in 

relation to the property" (Initiat Application). 

25. The receivers and managers of AFPT and AFPT2 were not served with any documents 

pertaining to that application, and were not otherwise aware of it until approximately mid- 

October 2012. As such, we were unable to object to the orders sought by the First and 

Second Plaintiffs in the Initial Application. 

Section 4l9A Notices Issued by Receivers and Managers of Gunns 

26. 

By notices pursuant to section 4194(3) of the Act dated 1 October 20t2, the receivers and 

managers of Gunns exercised their statutory right to give notice that they do not intend to 

exercise rights in relation to any of the properties the subject of the AFPT and AFPT2 

Head Leases, such that they were relieved from personal liability for rent pursuant to 

section 4I9A(4) of the Act. 

Now produced and shown to me marked I'PA-2'' are true copies of the s4194 notices 

issued by the receivers and managers of Gunns. 

Maintenance of AFPT Land 

27 

On 19 October 20I2,I wrote to the First Plaintiffs in their capacity as administrators of 

Gunns, informing them that the receivers and managers of Gunns had issued notices under 

section 4l9A of the Act, and asking them to confirm whether Gunns has or would continue 

to comply with its obligations under the AFPT and AFPT2 Head Leases. 

Now produced and shown to me marked rrPA-3" are true copies of my letters to the First 

Plaintiffs dated 19 October 2012. 

28. To date, no response to my letter dated 19 October 2012has been received. 

e 

29. 

I have read the Fourth Affrdavit of Daniel Bryant filed in this proceeding and understand 

that the First Plaintiffs have entered into maintenance agreements for various fire and 

regulatory compliance services with Gunns Forest Products Pty Ltd (Receivers and 

Managers Appointed)(Administrators Appointed) in respect of the managed investment 

scheme pranrations "#JBi,,iå'3tïJjÌtråi:ff 

An Austraiian Legal Practitioner within the 

meaning of the Legal Profession Act 2004 

ñlt.i t02st6443 3 (w2cr07)

9 

30. 

I am unaware of any steps taken by the First Plaintiffs to ensure that fire and regulatory 

compliance works are carried out in respect of plantations on the AFPT Land which are 

unrelated to the managed investment schemes. 

31. In the event these works are not carried out on plantations unrelated to managed investment 

schemes, and the receivers and managers of AFPT and AFPT2 are not able to take 

possession of the AFPT Land until 31 January 2012, we will be at risk of significant 

personal exposure on taking possession. In particular, if there is a fire or other 

environmental issue emanating from the AFPT Land before we are able to complete the 

requisite works. Absent these works being completed, I am also concerned about our 

ability to obtain insurance in relation to the AFPT Land. 

Termination of Head Leases 

32 

As at 30 September 2012, outstanding rent due under the AFPT and AFPT2 Head Leases 

totalled 51,206,929 and $560,3 03 respectively. 

JJ. 

Notices of default were issued to Gunns in relation to the AFPT and AFPT2 Head Leases 

on 17 October 2012 (Default Notices), by way of service on the First Plaintiffs and the 

receivers and managers of Gunns. 

Now produced and shown to me marked rrPA-4rr are true copies of the Default Notices and 

covering letters. 

34 On 19 October 20I2,I received two letters from the First Plaintiffs' lawyers, Arnold Bloch 

Leibler, acknowledging receipt of the Default Notices and noting that the property the 

subject of the leases is subject to section 4408 of the Act. 

Now produced and shown to me marked rrPA-s'r are true copies of the letters from Arnold 

Bloch Leibler dated 19 October 2012. 

C 

35 On24 October 2012,I received correspondence from Bryan Webster of Korda Mentha, in 


525 Collins Street, Melboume 

A n Aust ralianrL,egab8rac{tioner within the 

rneaning of the Legal Profession Acl2O04 

his capacity as receiver and manager of the Gunns Group of Companies. The letters 

requested a standstill arrangement in relation to the AFPT and AFPT2 Head Leases 

respectively, to the extent that Gunns or 'Wesley Vale as trustee for the Tamar Tree Farm 

has a plantation interest located on the underlying land.

l0 

Now prodüced and shown to me marked rrPA-6rr is a true copy of the letter from Bryan 

'Webster dated 24 October 2012. 

36. 

On 30 October 2012,I wrote to the receivers and managers of Gunns informing them that I 

was unable to agree to the standstill arrangement proposed in their letters of 24 October 

2012 absent a concrete proposal for a sale and/or recapitalisation. 

Now produced and shown to me marked rrPA-7'r are true copies of my letters to the 

receivers and managers of Gunns dated 30 October 2012. 

37. On2l November 2012, AFPT and AFPT2 terminated the AFPT and AFPT2 Head Leases 

by serving formal notices on Gunns, the First Plaintiffs and the receiver and managers of 

the Gunns Group of Companies (Termination Notices). 

Now produced and shown to me marked rrPA-8rr are true copies of the Termination 

Notices. 

Potential Replacement Responsible Entity 

38. On 20 November 2012,I had a telephone conversation with Barry Wight and Michael 

Boudrie, both employees of the administrators. During the conversation, Mr Wight stated 

that: 

(a) 

Macquarie Group Limited (Macquarie) was the only credible party potentially 

interested in replacing GPL as responsible entity; 

(b) 

Macquarie was unlikely to take over as responsible entity of all of the Gunns 

schemes; 

(c) 

any proposal from Macquarie is likely to require landlords to agree to vary the 

terms of head leases so that rental is defened until the realisation of harvest 

proceeds at the end of the relevant managed investment scheme; and 

(d) 

the proposal may also seek a discount on the rent payable in addition to deferred 

payment. 

C 

ñltr f 025 l(,443 3 (W2007)

11 

39. 

On22 November 2012,I wrote to Gunns, care of the First Plaintiffs, informing them that 

any proposal containing some or all of the terms set out in paragraph 33 (c) and (d) above 

would be unacceptable to the secured creditors of AFpT and AFpT2. 

Now produced and shown to me marked rrPA-g'r are true copies of my letters to thc Filst 

Plaintiffs dated 22 November 2012. 

40 

4r. 

To date I have not received a response to my letter dated 22 November 2012. 

I have read the Fourth Affrdavit of Daniel Bryant filed in this proceeding and note that he 

has been informed by Mr Wight that the statement in my letter dated 22 November 2012 

regarding Macquarie being the only party potentially interested in replacing GPL as 

responsible entity is incorrect. I repeat my comments in paragraph 38 above and otherwise 

confirm that neither WA Blue Gum, nor any other entity, was mentioned as a potential 

replacement responsible entity during the conversation with Messers Wight and Boudrie on 

20 November 2012. 

42 

In light ofthe conversation referred to at paragraph 38 above, I have real doubt that there is 

a replacement responsible entity proposal in existence which could ever be acceptable to 

the receivers and managers of AFPT and AFPT2, bearing in mind that the AFPT and 

AFPT2 Head Leases have been terminated. In this regard, on27 November 2012,I 

requested that our solicitors, Minter Ellison, write to the First Plaintiffs' solicitors 

requesting further information about the proposals, or access to the confidential exhibits 

DMB-23 and DMB-24 to the Fourth Affidavit of Daniel Bryant. 

Now produced and shown to me marked 'rPA-10" is a true copy of the letter from Minter 

Ellison to Arnold Bloch Leibler dated 27 November 2012. 

43. 

I am informed by Brendon Watkins of Minter Ellison and believe that no response to that 

letter has been received at the time of swearing this affidavit. 

Sales Process / Receivers' Duties 

44. 

As receivers and managers, we have duties to realise secured assets in an expeditious 

e 

manner and otherwise act in the interests of our appointors. In the current circumstances, 

the properties comprising the AFPT Land are the only assets available to satisfli the debts 

owed to the secured creditors. 



An Australi6O hqgelPf6Êtßtgner within the 

meaning of the Legai Profession Acl2004

I2 

45 Accordingly, since our appointment as receivers and managers of AFPT and AFPT2, my 

staff have taken significant preparatory work to facilitate a sale of the AFPT Land, 

including: 

(a) 

setting up a data room with a third party service provider; 

(b) 

visiting Gunns and GPL's offices in Launceston to collate all information required 

to complete the relevant statutory disclosures in a sales process; and 

(c) 

engaging an independent third party valuer to prepare a current valuation of the 

AFPT Land. 

46 

Upon leave being granted to take possession of the AFPT Land pursuant to section 

440B(2Xb) of the Act, the receivers and managers will be in a position to commence a sale 

process in respect of the AFPT Land, without further delay. 

47. 

On taking possession of the AFPT Land, the receivers and managers also have statutory 

duties in relation to fire and regulatory compliance works. If those works have not been 

carried out over the summer months, in respect of the entirety of the AFPT Land, prior to 

us taking possession, this could give rise to a serious risk of personal liability. It may also 

make it impossible to obtain insurance, or otherwise significantly impact on the insurance 

premium. 

48 

Finally, we are without income to meet fees and expenses incurred in the receiverships, 

including our own remuneration, until a sale of the AFPT Land is effected. This position is 

exacerbated if the moratorium is to continue without payment of rent. 

SWORN at Melbourne 

by PETER MCKENZIE ANDERSON 

on 28 November 2012 

) 

) 

) 

before me 

Q 

CAITLIN PAIGE FANKHAUSER "V 




Nlt-. to2_5 t6443 3 (W2l)07)

Schedule I - Managed Investment Schemes 13 

1. 

2. 

J. 

4. 

5. 

6. 

7. 

8. 

9. 

10. 

11. 

t2. 

13. 

14. 

15. 

t6. 

17. 

18. 

t9. 

20. 

21. 

Gunns Plantations V/oodlot Project 2000 ARSN 092 354 535 

Gunns Plantations Woodlot Project 2001 ARSN 094182279 

Gunns Plantations Woodlot Project 2002 ARSN 099 584 675 




Gunns Plantations Limited Woodlot Project 2006 ARSN 118 534 106 

Gunns Plantations Limited V/oodlot Project 2008 ARSN 128 933 237 

Gunns Plantations Ltd Woodlot Project 2009 ARSN 135 490 292 

Gunns Plantations Winegrape Project ARSN 108 955 193 

Gunns Plantations V/inegrape Project ARSN lI4 0I1737 

Gunns Plantations Limited Winegrape Project ARSN 123 393 528 

Great Southem Plantations 1998 ARSN 092 780 204 

Great Southern Plantations 1999 ARSN 092 452 849 




Great Southern Plantations 2003 ARSN 099 l3l 825 

Great Southern Plantations 2004 ARSN 107 811709 

Great Southern Plantations 2005 ARSN Il2 744 877 

Great Southem Plantations 2006 ARSN 112744 902 

e 





l\,1Ë t02-5 t6443 3 (W2007)

I4 

Schedule 2 - Companies in the Gunns Group 

r. GUNNS LTMTTED (ACN 009 478148) 

2. GI-rNNS NEW ZEALAND pTy LTD (ACN 069 051 378) 

3. KAURr TTMBER COMPANY LTD (ACN 004 085 714) 

4. GUNNS FOREST PRODUCTS pTy LTD (ACN 004 20S 904) 

s. SORTSDALE pTy LTD (ACN 054 548 97t) 

6. WESLEY VALE ENGTNEERTNG pTy LTD (ACN 006 955 563) 

7. NORTHERN FOREST INVESTMENTS pTy LTD (ACN 009 493 707) 

8. KVVIC PTY LTD (ACN 126 089 9s0) 

9. AUSPTNE LTMTTED (ACN 004289 730) 

10. S.E.A.S. PLANTATIONS pTy LTD (ACN 005 791 695) 

1 1. SOUTH EAST AFFORESTATION SERVICES PROPRIETARY LIMITED (ACN OO7 

898 2s9) 

t2. AUSPTNE PLANTATTONS pTy LTD (ACN 002327 808) 

13. TTMBERSALES PROPRTETARY LTMTTED (ACN 004 848 864) 

t4. SAPFOR TRADTNG PROPRIETARY LTMTTED (ACN 007 924 254) 

15. S.E.A.S. SAPFOR FORESTS PROPRTETARY LTMTTED (ACN 007 872120) 

16. GTP ALEXANDRA pTy LTD (ACN tzr 6s3 772) 

17. GTP HEYFTELD PTY LTD (ACN 000 041 814) 

18. GTP SOUTHWOOD prY LTD (ACN 081 613 710) 

19. GUNNS PROPzuETARY LrMrrED (ACN 09r 232209) 

20. GUNNS HOLDTNGS PTY LTD (ACN 009 s20 085) 

21. GTTNNS FTNANCE PTY LTD (ACN 091 861 700) 

22. ASSOCTATED FOREST HOLDINGS PROPRIETARY LIMITED (ACN 004 352 078) 

23. TASMANTAN pULp & FOREST HOLDINGS LTMITED (ACN 009 488 733) 

24. TBVTC PTY LTD (ACN 00416t782) 

a 

2s. EAST COAST PASTORAL CO PTY LTD (ACN 009 5r9 s28) 

CAITLIN PAIGE FANKHAUSEH 


4'' fuOtrtdiaa:þg4[f ractitioner within the 

ir¡uarirng of the Legal profession Aci,2û04 

'il

15 

26. GUNNS CONSOLTDATED TNVESTMENTS pTy LTD (ACN r28 6t9 04s) 

27. TASMANTAN SOFTWOODS pTy LTD (ACN 009 501 736) 

28. S.E.A.S. ESTATES pTy LTD (ACN 007 923 97t) 

29. MANNA HOLDINGS pry LTD (ACN 00S 008 197) 

30. AUSPTNE TREE FARMS pTy LTD (ACN 100 307 373) 

31. TASPTNE pTy LTD (ACN OO9 477 730) 

32. S.E.A.S. SAPFOR INVESTMENT SERVTCES PROPRTETARY LTMITED (ACN 008 164 

28e) 

33. S.E.A.S. SAPFOR HARVESTTNG PROPRTETARY LIMITED (ACN 007 5 rr 2tr) 

34. cTp CHrNA pTy LTD (ACN 093 919 4r4) 

3s. GTp SEYMOUR pTy LTD (ACN 091 6s2 sso) 

36. GTp HOLDTNGS pTy LTD (ACN 009 47S 063) 

(ALL ADMINISTRATORS APPOINTED) 





ME-t02s16443 3 (W2007)

IN THE MATTER OF GUNNS PLANTATIONS LIMITED (IN ...

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