Quintis Leasing - Voluntary Administration

Quintis Leasing, part of the Quintis Group, the world’s largest Indian sandalwood company, entered voluntary administration on 20 December.

The move comes after the Quintis Group announced it was winding up its Managed Investment Scheme (MIS) sandalwood projects, following a KPMG report which concluded that the projects were not financially viable and would have cost investors more than $30 million to complete.

Quintis Leasing is the entity responsible for the leases of the plantation lands.

Richard Tucker and Scott Kershaw of KordaMentha were appointed joint administrators, having been referred the matter from Lavan Legal, the Quintis Group’s legal advisors.

The first meeting of creditors is scheduled for 4 January.