THE feasibility of launching a discretionary mutual fund to protect growers from the risk of counterparty default is being couched in what is believed to be a first for Australia.
Driving it is Salus Mutual Management director Alex Campbell who said insolvencies since 1996 in the Australian, grain, oilseed and pulse industries had led to losses of more than $514 million.
While this total includes secured creditors such as banks and the Australian Taxation Office, it also represents money owed to growers.
As unsecured creditors, Mr Campbell said they often saw little if any of th…
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