Neill’s whisky upgrade

ONE of Tasmania’s wealthiest residents has boosted his stake in the company that took over the collapsed Nant whisky company.

BRW rich lister Bruce Neill has increased his voting power in Australian Whisky Holdings to nearly 20 per cent after a short-term loan was converted into shares worth $805,950.

Australian Whisky Holdings (AWH) acquired the Nant distillery and trademark rights last month after earlier buying the company’s estate at Bothwell.

It is also managing Nant’s vexed whisky barrel investor scheme, which is under police investigation after Nant investors were left high and dry.

An audit of the scheme by AWH allegedly found that hundreds of barrels never existed, were not filled or had been decanted and sold.

Nant and its barrel investment scheme were founded by Queensland bankrupt Keith Batt with the business going into receivership earlier this year.

Mr Neill, who bought the old Mercury building in Macquarie St and made his money in financial services, has pumped millions into AWH through his various companies.

This included a $600,000 loan to fund the buying back of whisky barrels from investors.

Nant investors were initially relieved when AWH arrived on the scene but some feel let down with the ongoing fallout from the barrel scheme.

They are calling for an independent audit of the barrels so investors have a more transparent picture.