The future of Great Southern's billion-dollar forestry assets has come down to a tussle between the failed company's banks and bidders for its management rights.
According to The Australian Financial Review, more than 40,000 grower investors are waiting on a final proposal from Gunns after receiving bids from Black Tree Proprietary and Pulpwood Plantations earlier this month.
Behind the bids for management rights, the real game is for Great Southern's land - 190,000 hectares of prime freehold.
Gunns's offer is expected to be made this week but it is taking longer than anticipated as the banks try to save as much of their security over the land assets as they can.