CBA has taken possession of two rural Queensland properties worth $40m, after the company that owned them was found guilty of fraud.
The historic Yalanga Station near Noosa, and a macadamia nut farm on the Sunshine Coast were both purchased by Nexis Holdings in 2010.
It failed to pay interest to CBA
, and subsequently the sale was declared fraudulent by the Brisbane Supreme Court.
It's alleged the properties will now sell for a fraction of their purchase price.