Great Southern receiver McGrathNicol has indicated the group's horticulture schemes are likely to be wound up, which will leave investors nursing significant losses.
McGrathNicol said in a statement today that there had been limited demand for the schemes, which include olive plantations.
"The limited proposals received for these schemes are largely underdeveloped. We will be working with those parties but we anticipate that many of these discussions will not provide a solution for growers," the receiver said.
"These horticultural schemes clearly face extraordinary challenges."
It is understood that at least one of the olive scheme submissions includes a plan to develop the schemes, while others are bidding for the properties with the schemes to be wound up.
Kailis Organic Olive Groves and Sumich Olive Group of Companies are among the groups to make a submission.
Great Southern operated 45 forestry, horticulture and cattle managed investment schemes on behalf of more than 40,000 investors before it was placed in administration and receivership in May.
McGrathNicol said that collectively the horticulture schemes required in excess of $30 million in expenditure over the next 12 months - and as much as $200 million over their expected lifespan - to keep them going.
"As such, the likely outcome will be the winding up of the majority of the horticultural schemes," the receiver said.
There has been strong demand for Great Southern's flagship timber schemes, and McGrathNicol has indicated it will provide a recommendation to investors of its preferred bid in the coming weeks.
The receiver has secured limited financing - understood to be about two to three week's worth - to maintain Great Southern schemes for the time being.
