Pulpwood Plantations hopes to beat woodchipping giant Gunns Ltd in a bid to take over the management of certain forestry managed investment schemes (MIS) formerly run by failed agricultural projects company, Great Southern Ltd.
Perth-based Pulpwood Plantations was established by Western Australian industrialist Gordon Martin, with the sole purpose of investing in Great Southern's forestry schemes.
Both Pulpwood Plantations and Gunns have bid to replace Great Southern Managers Australia Ltd (GSMAL) as the responsible entity for managing the schemes.
Pulpwood Plantations was reported on Friday to have said that its offer still stands, despite Great Southern creditors, at a meeting convened on Thursday by the company's administrator, Ferrier Hodgson, voting in favour of placing 27 of the 35 companies in the Great Southern group in liquidation.
GSMAL and the parent company were among those entities placed in liquidation.
Pulpwood Plantations sent a letter to Great Southern growers this week, encouraging them to vote at a December 10 meeting to accept its offer.
Gunns, which has 15 MIS schemes of its own, has been in talks since October with Great Southern receivers, McGrathNicol.
Comment is being sought from Pulpwood Plantations.
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