Forestry Tasmania a failed GBE?? Publicly listed Tasmanian 'Forest companies' (cough,cough) owe state $40M. What the??

Forestry Tasmania debt burden grows - From ABC online

Forestry Tasmania is trying to recoup $40 million in unpaid debts.
A parliamentary committee has heard the level of debt owed to Forestry Tasmania is growing and now exceeds $40 million.
Forestry Tasmania's chief executive Bob Gordon is giving evidence to a Legislative Council inquiry into Forestry Tasmania's financial position.
Mr Gordon says Forestry is trying to recoup $40 million in unpaid debts.
He refused to name the companies owing money, saying it would be inappropriate because some are publicly listed. Since the last financial report, the length of time taken to retrieve those debts has extended from 85 to 89 days. Mr Gordon says up to a third are current debts. He says the state-owned company has worked hard to cut costs, including reducing staff from 530 to 350 since January 2007. Many of the employees were in the company's Mersey District which was axed, but staff have also been cut from head office and other areas.