THE administrators for Australia's largest irrigation operation, Cubbie Station, are feeling the pressure to bring some closure to a drawn out and politically sensitive sale process.
The genuine tenders on Cubbie are few and far between.
The Australian Financial Review reports the administrators McGrathNicol called in US corporate advisers Provident to introduce some potential buyers for Cubbie, which has debts running into the high $300 million range.
At this point it seems that some of the tenders, which closed last week, are still being given the cold shoulder by the major secured creditor National Australia Bank, which is owed more than $220 million.
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