|Henbury station - 230 Km South of Alice Springs|
So RM Williams Agricultural proceeded to do just that.
Using $9 million Federal Government grant, with great fanfare they bought the 5300sq km property for $13 million.
ABC Rural reported: (link)
RM Williams Agricultural Holdings collapsed late last year owing nearly $100 million, after its carbon farming project Henbury Station at Alice Springs folded.
Investors left out of pocket included ACCC chairman Rod Sims, and the former owners of Henbury station, Ross Morton and Sally Williams, who were owed $4.5 million for the sale.
PPB Advisory and its legal advisors Henry Davis York have now applied to court for the purpose of conducting examinations in the coming months.Details of the sale are still under wraps, but media reports suggest the final price was between $6 to $8 million.
Receivers and Managers PPB Advisory previously announced that the company was delighted to have secured the future of Henbury as a cattle business once again.