Timbercorp RPS

The Timbercorp administration and liquidation has finally moved another step closer to conclusion. The Timbercorp Reset Preference shares (ASX code TIMPB) were deemed worthless by the liquidator as at 28 June 2012. As expected, there was no payment but at least preference shareholders can now claim a tax loss in the 2011/12 financial year, to offset gains elsewhere that year or in the future. If you’ve already completed your tax return, you can choose to make an amendment to your return or hold off until next year.

The ordinary shares (ASX code TIM) were deemed worthless on 24 June 2010, and we’re still waiting for information on the Timbercorp Convertible Notes (ASX code TIMG), which are likely to be worthless, the Timbercorp Orchard Trust Debentures (ASX code TODHA) and any further (small) payment for bondholders (ASX TIMHB), who received $56 per security in 2011 but are still waiting for confirmation that they can write off the rest of their investment.

For more details directly access the declaration for the Timbercorp preference shares or the broader Timbercorp liquidation announcements on the KordaMenta site.