Quintis Leasing - Case Update

A further two week extension has been granted to the time for which the administrators of Quintis Leasing, part of the Quintis Group, are not personally liable for rent.

Richard Tucker and Scott Kershaw of KordaMentha were appointed as joint administrators of the company on 20 December 2023 after the Quintis Group announced it was winding up its Managed Investment Scheme (MIS) sandalwood projects. Quintis Leasing is the entity responsible for the leases of the plantation lands.

Shortly before the deadline to the previous extension, the administrators received a DOCA proposal for the company from an interested party. Negotiations are ongoing.

The Court noted that, in the limited time available, the administrators had not been able to form a conclusive view about viability of the proposal, but that the proponent may be in a better position to provide a more developed proposal shortly.

The Court also took into account that refusing an extension would inevitably lead to the leases being terminated and to Quintis Leasing being wound up, and that the secured creditor had not objected to the application.

Read the decision here.