"Good management to see they (Aussie Farmers Direct) were in financial trouble...."
My thoughts are that "blind freddy" could / would have seen that, would have been obvious to anyone intimately involved in the industry.
On that basis, to say that exposure of $90k is "minimal" is not that inspirining to me.
How much of the $90k will be recovered --- probably not much.
To AHF which does not appear (at this stage) to be making much from its processing ops, $90k is significant.
I am sure (good) management could have put some better financial arrangements in place that might have reduced the exposure to losses even more.
So good management --- twaddle ---- My expectactions are higher.
As a farmer, at times I dont like the risk of handing over produce for sale to be paid later ....
Some years ago quite a few farmers in our area lost large amounts of $'s (some hundreds of $k) when they shipped off their faba bean crops, the buyer/trader went 'belly up' and the administrators/liquidators claimed 'the beans are ours' --- you're just an unsecured creditor! Fortunately, dodged that one, but the scenario was 'a learning'.
"Good management to see they (Aussie Farmers Direct) were in...
Add to My Watchlist
What is My Watchlist?
