On 20 November 2023, John Goggin of Worrells (Cairns office) was appointed administrator of the following companies that comprise the “Daintree Bio Precinct Group”:
• Daintree Bio Precinct Ltd;
• Far Northern Milling Pty Ltd t/as Mossman Mill;
• Far Northern Infrastructure Pty Ltd; and
• Daintree Bio Enterprises Pty Ltd.
Daintree Bio Precinct Ltd (DBP) is a cane grower owned company located in Mossman, Far North Queensland. DBP’s subsidiary - Far Northern Milling Pty Ltd - acquired the Mossman Mill from Mackay Sugar Limited in July 2019. DBP’s other subsidiaries own land adjacent Mossman Mill and operate environmentally sustainable bio-projects and products.
The companies are continuing to trade during the voluntary administration period in order to complete the 2023 cane crush season. At the date of administration appointment, the group had approximately 130 full time and casual employees.
Mr Goggin said, “The administration process is in its infancy and we are working hard to immediately establish the group’s financial position, including options for the future of the respective businesses and quantifying creditors’ claims, with the assistance of the directors and the senior staff. We are conscious of the impact the appointment will have on everyone involved and the wider Mossman community.”
Worrells advises it will continue to provide updates as more information becomes available.
Worrells is the leading brand of insolvency and turnaround teams. With local teams in Qld, NSW/ACT, Vic, and WA, Worrells also has the support of a national brand. Its teams has helped people and business recover from difficult financial situations and assisted the creditors attached for over 50 years.
Principal, Worrells Cairns