The changing face of ownership in rural Tasmania is exemplified by the sale of land assets created under MIS scams by companies such as Great Southern, FEA, Timbercorp — all now in liquidation.
The Great Southern land bank has been sold by the liquidators to a Canadian Pension Fund for less than 50% of the original purchase price, an enormous loss of value to the Australian taxpayer:
In my local council area, the Meander Valley, this means that twelve family farms:
Download list: Attachment_1.pdf
... on the best agricultural land have been lost to the local community thanks to the efforts of one company.
The 2-million tree Tasmanian Senator Erich Abetz - under whose watch as a Liberal Minister for Forests these Ponzi corporations flourished - has a lot to answer for.
Gunns will soon be in the hands of the Receivers; then 15 or more of our best agricultural farms in the municipality will go to the Liquidators.
These tax-driven trees act as tenants who pay no rent, they impair the value of the land and are impossible to evict. The 12 family farms on which they stand originally produced real jobs, real incomes, kept the schools in children, and families on their land. They are now silent monuments to political chicanery and man’s cupidity.
It is of interest that our own State Pension Fund has been raided by the State Labor Government and as a result is now devoid of money, only an IOU from the Giddings /Aird government stands between it and penury.
Hobart airport, a Lennon deal for nearly as much money - $350 million as against $415 million for more than half a million acres of Australia - is indicative of the skills of Tasmanian pension fund managers when compared to their Canadian counterparts.