Quintis collapse: investors left with thousands of worthless shares after company calls in administrators – The West Australian

Besieged sandalwood company Quintis has collapsed, rendering worthless the shares of thousands of investors. Directors of the cash-strapped company said today they had called in administrators from KordaMentha following Fridays decision by a US fund manager to exercise an option demanding Quintis buy back $37 million of sandalwood plantations. The company does not have the…