AUS: Investment goes sour for wine makers De Bortoli
AUS: Investment goes sour for wine makers De Bortoli
May 10, 2012 6
(WAToday) - De Bortoli Wines has more than $30 million of investment and superannuation money at risk in teetering base metals miner Kagara.
It is the second time that the Griffith-based family wine group has been caught with multimillion dollar shareholdings in a public company placed into the hands of insolvency practitioners.
Ten years ago it was the $5 billion collapse of insurance group HIH, when De Bortoli Wines took a $14.5 million write-down on the value of its investment. It later failed in a court bid to be counted with creditors for $9.2 million of shares.
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