Enviroinvest/Primary Yield investors need to know about illegal logging and the global uranium market

Enviroinvest's bluegum plantations are located mainly west of Ballarat, near the Victorian Town of Beaufort. The above map shows bluegum plantations owned by Enviroinvest and Midway Planations marked in yellow. The dark brown shading relates to pine plantations mainly owned by Hancock Victorian Plantations. Enviroinvest also has access to ex Hancock land now leased by EPFL (East Victorian Plantation Forest Company of Australia Pty Ltd) who are a consortium of Japanese paper manufacturers and a trading house. EPFL has a Heads of Agreement for the sale of bluegum with Enviroinvest.

November 22 2011: Pescott Back In Firing Line

July 20 2011: Judge Strikes Out Puzzling Enviroinvest Pleadings

April 6 2011: Rip 'Em Out. Tree Plantations Are Returned to Farmland

February 7 2011: Pescotts Tools of the Trade

Sep 8 2010: Ex-minister Pescott declared bankrupt

The Age 8/9/10 - Leonie Wood: Former state Liberal minister Roger Pescott has been declared bankrupt, with investors claiming millions of dollars.

St George Finance yesterday obtained orders in the Federal Magsitrates Court over a $291,632 debt owed by Mr Pescott, and told the court the businessman owed it a further $3.68 million under a commercial bill facility. The court was told Mr Pescott had no assets in his name.

Nick Mellos of Grant Thornton was appointed Mr Pescott's trustee in bankruptcy.

Four other creditors supported St. George's move. They included the liquidator of the failed tree plantation investment group Enviroinvest Ltd and the accountancy firm HLB Mann Judd.

Registrar Tim Kuxton heard that Enviroinvest's liquidator, Jom Downey, had initiated several court claims against Mr Pescott, and if these succeeded Mr Pescott might be found liable for a further $12 million.

Mr Downey recently filed a multimillion-dollar claim against Mr Pescott, two of his fellow Enviroinvest directors, plus Mr Pescott's wife Caroline, his brother Euan Pescott, and various companies controlled by the Pescott family.

In a statement sent to The Age yesterday through Mr Pescott's lawyer, Caroline Pescott said neither she nor Mr Pescott owns the Trawalla mansion in Western Victoria where they live.

In a seperate statement, Mr Pescott claimed St George's action to bankrupt him was "perplexing at best". He claimed that while he had borrowed "less than 4 million" from St George, the bank's security was "valued" at around $12 million".

But this is contradicted by sworn documents by St George's senior manager of credit, John Cassar, which indicate that the three properties secured against the $3,685,000 bill facility fall far short of Mr Pescott's $12 million estimation.

In an affidavit, Mr Cassar said the $3,685,000 facility was secured against properties at Burrumbeet in western Victoria, Yarra Junction and Warburton, which St George is in the process of selling. He told the court the bank expects the sales will reap only $1.77 million to $2.45 million.

In his statement, Mr Pescott criticised the Enviroinvest liquidation, describing the asset sale process as "a disgrace".

Nov 15 2010: Pescott in Second Liquidator Lawsuit

August 19 2010: Ex-Lib Minister Faces Bankruptcy

Oct 3 2009: Pescott Defends Options Held on Enviroinvest Schemes

Oct 2 2009: Prospect of Pescott Suit

Aug 22 2009: Pescotts Daughter Quizzed on Property Purchase

Aug 21 2009: Last Minute Reprieve for Pescott

Nov 8 2008: Court Orders Enviroinvest Solvency Check

Nov 7 2008: Top End Names invested in Enviroinvest

Nov 7 2008: Land Sold To Pescott

Oct 25 2008: Roger Pescott Claims Referred to ASIC

Oct 25 2008: Big Losses Expected as Exlib Politicans Business Fails

"...gum trees are seriously stunted by years of drought and a lack of nutrients"

Oct 24 2008: Bendigo, Commonwealth Fued Over Enviroinvest's Trees

Oct 18 2008: Burnt Enviroinvest investors want answers from Australian Securities and Investments Commission

Oct 18 2008: Former CricketerDean Jones Caught Out in Fund

Oct 17 2008: Environinvest Queries Raised By Receivers

Sep 23 2008: Environinvest goes bust

Sep 23 2008: Tree Scheme Felled

July 10 2008: Pressure on Former MP Roger Pescotts Firm

S.T.Y. Afforestation are the forest managers for Enviroinvest/Primary Yield. In the mid 1990's, Environmental organisation Friends of the Earth Fitzroy took STY Afforestation to the Administrative Appeals Tribunal over breaches to a logging permit and the Code of Forest Practice in the McCrae's Creek domestic water supply catchment in the Yarra Ranges. Friends of the Earth successfully won the case, which probably remains the only example of a logging company being found guilty of breaching environmental laws in Victoria. The land was located in 4 allotments in the Parish of Beenak.

S.T.Y. Afforestation were closely connected with then Liberal Party Minister Roger Pescott. Mr Pescott remains closely associated with STY Afforestation by being a director of Enviroinvest. Mr Pescott also has involvement in the global uranium market through Edlow International . (follow links on Edlow site from Regulatory Assistance Worldwide, then International offices)

Approximate location of STY Parish of Beenak properties to Melbourne.

Site from above 17 years after VCAT hearing. Is this really the only bluegum plantation located within Melbourne's Drinking Water Catchment? Native forest conversion.

August 2007: Unhealthy tree crop blown over by the wind - Parish of Beenak

STY also own about 4 allotments of land near Mount Myrtalia in the Myrtle Creek catchment about 3km north west of the town of Powelltown. These properties may be significant for Cool Temperate Rainforest. These properties were mortgaged to the company Geoffco Pty Ltd in 1998. Geoffco is directed and controlled through shareholdings by Geoff Cohen ex Chairman of collapsed insurer HIH - the nations largest corporate failure. Criminal charges have been laid against Mr Cohen by the Commonwealth Director of Public Proseuctions on behalf of the Australian Investments and Security Commission.

A tributary of Myrtle Creek.

The following page includes the AAT contraventions and orders of the McCrae Creek case as well as photographs of the case. McCrae's Creek at the time supplied 7 communities in the Yarra Ranges with drinking water. With such a past, we remain slightly sceptical about the environmental credentials of Enviroinvest/Primary Yield.

The page also includes some updated information sent in from the Ararat region by our 'roving country reporter'.

Also Beaufort Region

The use and development of the subject land has contravened the conditions of the Planning Permit 47/25/1673 issued on 11 July 1986 pursuant to the Shire of Upper Yarra Planning Scheme Interim Development Order March 1978 (the permit) and the provisions of clause 8-6.2 of the Upper Yarra Planning Scheme (which incorporates the Code of Forest Practices for Timber Production - Revision No 1 May 1989 (the Code)), in that the use and development of the land for timber production has not taken place in accordance with the conditions of the permit nor the requirements of the Code.

i) logging within 60 metres of a watercourse within the McCraes Creek catchment and

iv) failure to construct properly logging roads, table drains and cross pavement culverts

v) failure to partially or selectively log the messmate - silvertop sub - type trees

vi) failure to clear fell properly stands of trees within the mountain ash sub-type.

vii) failure to breach and bar properly snig racks and undertake log landing rehabilitation at the completion of each logging season and

Sty (Afforestation) Pty Ltd (STY) is directed to do the things specified below within the period specified below and to otherwise ensure compliance with the said Act, the said planning scheme (including the provisions of the Code incorporated by reference) and the permit and the conditions of the permit.

1.1 Before any logging or further logging takes place on the subject land, STY must engage an independent forester (the certifying forester). The certifying forester shall be a person approved by the Responsible Authority after consultation with the Chairman of the Victorian Division of the Institute of Foresters of Australia Inc. and STY.

1.2 The certifying forester shall be responsible for advising the responsible authority and STY as to the carrying out of future logging operations on the subject land in accordance with the permit and the Code.

1.3 The certifying forester must be engaged on the basis that he or she is obliged to report any non-compliance with the permit, the Code of this order to the responsible authority.

1.4 The certifying forester must be engaged on the basis that he or she is required to bring to the attention of STY any works or measures which are reasonably required to ensure that any timber production takes place in a responsible manner and to balance environmental, social and economic values; and, in particular, to being to the attention of STY any works or measures which are required to achieve compliance with the permit and/or the Code.

1.5 Where measures are required by this order such measures shall be carried out to the satisfaction of the responsible authority, having regard to any certificate or advice furnished by the certifying forester.

1.6 The certifying forester must, when required to do so at the direction of the Responsible Authority, provide to it a report on or within 14 days from the 31st day of January and the 30th day of April during each year to the 30th April 2000 of the matters under the supervision of the certifying forester which shall include reference to any non-compliance with the permit, the Code, the revised forest utilisation plan to be prepared pursuant to Paragraph 2.1 of this order or any other requirement of this order, such report to be made available for public inspection at the office of the Responsible Authority.

2.1 Before any logging or further logging takes place on the subject land, STY must prepare a revised forest utilisation plan, which must be prepared by or certified by the certifying forester as being consistent with the objectives and requirements of the permit and the Code, to the satisfaction of the responsible authority.

2.2 Further logging of the subject land must be in accordance with the revised forest utilisation plan.

3.1 STY must carry out remedial measures to the creek crossings marked north, south and south-west on the attached plan. The measures must be sufficient to satisfy the conditions of the permit. The measures must be carried out before a crossing is further used by logging vehicles and, in any event, before 1 April 1996.

4.1 STY must carry out remedial measures to the roads on the subject land. The measures must be sufficient to satisfy the conditions of the permit and the requirements of the Code. The measures must be carried out before a road is further used by logging vehicles and, in any event, before 1 April 1996.

5.1 During the period ending on 30 September 1998 STY must arrange for the independent monitoring of the quality of water flowing into the McCraes Creek at such intervals and in such manner as may be reasonably required by the responsible authority, having regard to the advice of the certifying forester, and the results of such monitoring must be furnished to the responsible authority forthwith and be available for public inspection.

(a) serve a copy of this Enforcement Order personally or by registered post on STY (Afforestation) Pty Ltd at its place of business at ... Punt Road, South Yarra 3141 and at its registered office 1st Floor .. Station Street, Malvern 3144.

2. Environment Defenders Office (Vic) Ltd 446 Victoria Street, North Melbourne 3051.

4. Department of Conservation and Natural Resources C/- of the Victorian Government Solicitors Office 200 Queen Street, Melbourne 3000.

Native Vegetation Removal near Ararat (February 2006).

Huge piles of native vegetation get ready for the torch? Land Managed by Enviroinvest

Feb 06: Enviroinvest bluegum plantation near Mt Langhi Ghiran about 10km east of Ararat. This plantation lies in the Hopkins River catchment and is almost 800 hectares in size. Water losses from this plantation will peak before logging in 2015. The plantation by this stage will be using 1.2GL of water. 1 GL= 1,000, 000, 000 litres.

Beaufort Region (Trawalla Creek) April 2006.

April 06: Trawalla Creek surrounded by Enviroinvest bluegum plantations. These plantations won't improve water quality at this site in the Parishes of Beaufort and Langi-Kal-Kal because Trawalla Creek (20 metres on both sides) is Crown Land under an 1881 Act of Parliament. The plantations will instead use up surface flow and ultimately lead to further water losses in this catchment and in this creek in particular - especially in times of low rainfall. These plantations were established in 2002, meaning that water loss won't peak until 2012. Cattle are still wandering through this Creek, even though it was proclaimed as a water supply catchment in 1963. Water quality will only improve if the cattle stop wandering in the creek and if riparian planting of indigenous vegetation occurs. Where is the Catchment Management Authority?

April 2006: Degraded Trawalla Creek surrounded by bluegums. These are most likely Enviroinvest Plantations (Allotment 34 Section 5 Parish of Beaufort).

Enviroinvest & S.T.Y (Afforestation)