Huge mango farm operation to be sold by receivers

The Australian Financial Review04-26

The listing of the aggregation follows the January appointment of Deloitte’s Sam Marsden and Timothy Heenan as receivers by NAB to both Cheeky Farms and the owner of the farming land, Musumeci ...

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Five of the debtors did not exist at the address recorded in the plaintiff’s records, 32 of [the] debtors were not able to be contacted using the contact information recorded in the plaintiff’s records.”The property includes a huge packing shed spanning over half a hectare.  Westpac claimed that Fresh Xpress kept two sets of books. One, handed to it, showed the company making millions of dollars in net profits every year, with trade debtors stretching to up to $21 million a year, while another set of accounts more accurately reflected Sentox’s performance.In January, this year, PCI Partners liquidator Stephen Michell threatened to refer Ms Musumeci to the Australian Securities and Investments Commission for not complying with his requests for information. Lawyers for Ms Musumeci say she has since complied with the liquidators request.Also in January, NAB called in the receivers at Cheeky Farms and MPI. Property records show the mango properties were purchased for $7.2 million in October 2016.AdvertisementCheeky Farms is being marketed by Duncan McCulloch and Jesse Manuel from Colliers.The farms come to market amid official forecasts that the value of horticultural production will reach a record $17.8 billion next financial year, with the value of fruit exports rising 12 per cent to $2 billion.According to the Northern Territory Farmers Association, about 40,000 tonnes of mangoes are produced on NT mango farmland every year.“Mangoes are the largest horticultural commodity in the NT,” Mr McCulloch said.“The Australian Mango Industry has recently gained expanded access to key Asian markets and the United States of America with the removal of varietal restrictions on Australian mango exports.”","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2430967761"}