The receivers of unsuccessful forestry corporation, Great Southern Limited have started the procedure of vending out its intact forestry estate.

Great Southern at one time could manage 60,000 hectares of blue gum plantations in the south of Western Australia and the Green Triangle area of south eastern Australia.

On the other hand, the corporation went into management in May of the preceding year with amount overdue of $700 million dollars.

Receiver, McGrath Nichol today made announcement that it will sell Great Sothern’s whole forestry estate, most of which is at present taken care of by Gunns Plantations or Elders Forestry on behalf of shareholders.

McGrath Nichol expects that the procedure will maximize returns for all those who have made investments and creditors.

The sale is projected to be finished by the end of the current year.