I have today received a briefing from Gunns Liquidators PPB Advisory on the current situation.
This is a complex matter. The losses involved in the Gunns collapse total more than $2.0 billion and the liquidators have obligations to ASIC and the courts to ensure creditors are treated fairly.
I can confirm that I have sought and received assurances from liquidators that in discharging their responsibilities under Corporations Law, they will have regard to the financial circumstances of Tasmanian businesses including contractors and the need to avoid further insolvencies.
I am also assured this process does not involve the sale of Gunns’ plantation assets to New Forests.
I would strongly encourage those affected to obtain their own independent legal advice.
It is very important that the green shoots in the forestry industry are not derailed by uncertainty about this issue, and the Government will continue to closely monitor the situation.