Case Study: Tiwi Plantation Corporation Pty Ltd

Sal Algeri, National Restructuring Lead Partner at Deloitte, will discuss the successful turnaround strategy of Tiwi Plantation Corporation Pty Ltd (“TPC”), the factors that contributed to TPC’s position and the various issues encountered including:

• Revaluation of the plantation
• Capital constraints
• Governance and stakeholder management
• Risk of insolvency

TPC is the largest indigenous organisation in northern Australia. Established in late 2009, TPC is owned by eight Tiwi Islander landowner groups and supplies hardwood chips to the paper pulp industry in Japan and China. It owns and operates a 30,000 hectare forestry plantation based in Melville Island, part of the Tiwi Islands, 80 kilometres north of Darwin. TPC purchased the plantation from the Receivers of Great Southern in 2009 in the hope of resurrecting it to help create local jobs and increase the financial security of the Tiwi Islands, but by March 2016 it was again on the brink of insolvency.