Directors of the sandalwood company Quintis have called in administrators.
Quintis owns and manages more than 12,000 hectares of Indian sandalwood plantations across northern Australia.
The company had done a large planting regime in 2017 in Western Australia’s Kimberley’s Ord Irrigation Scheme and in the Douglas Daly Region of the Northern Territory.
Shares in Quintis have not traded since May and the company has decided to appoint KordaMentha as administrators.
It is expected that the McGrathNicol firm will be appointed as receivers in a matter of days.
In a statement, Quintis said Asia Pacific Investments on January 19 exercised an option for Q…
Read the full article at: http://www.abc.net.au/news/2018-01-21/sandalwood-company-quintis-appoints-administrators/9347190