Australian businessman James Packer has resigned from the board of his family's company.

Australian billionaire businessman James Packer spent the last weekend in June on the French Riviera, hand-in-hand with his new love interest Kylie Lim on the streets of Saint-Tropez.

There must have been a lot on his mind.

Just a few days later, Wednesday June 27, Packer instigated another purge of his corporate empire by resigning from almost every corporate board he was still associated with.

GETTY IMAGES James Packer has resigned from corporate life.

Packer's resignation from his private corporate flagship, Consolidated Press Holdings, was the most high profile. It owns his stake in Crown Resorts and houses almost every other investment he is involved in.

READ MORE:

The fact that he had been on the CPH board for more than 26 years says everything about the place it has held at the centre of the Packer family universe for so many decades.

But the billionaire also resigned from 14 private companies that operate within the CPH group.

According to records lodged with the corporate regulator, he remains on the board of just a handful of companies including the Kerry Packer Cricket Foundation Ltd.

Insiders see the move as the next step in his withdrawal from all business interests to focus on his mental health. Just days after his March resignation from Crown, Packer checked himself in to the The Pavilion wing of the McLean Hospital, a $5000 per night, 11-bed facility on the outskirts of Boston.

He is expected to resign from all of his corporate roles.

Multinational HQ

One of the more interesting asides from reading through James Packer's corporate record is seeing how much the axis of his world has changed in recent years.

There are still mentions of his old address in Bondi Beach where he cooked up investment gems like One.Tel.

Many people would be surprised to know that he only stepped down from the board of the mobile phone disaster in November last year. As CBD revealed last year, the One.Tel saga only came to an end in August last year when a final meeting for creditors and shareholders was held at Sydney's Masonic Centre.

His former Bellevue Hill address also gets a significant mention, while his flirtation with Israel has almost entirely disappeared from his corporate address book.

Taking its place has been his man cave in Aspen, Colorado which appears as the corporate address of 22 different corporate entities.

In the bag

Oroton investors have been given a timetable for the formal handover of the handbag maker to its biggest fan, Sydney fund manager Will Vicars.

The Deed of Company Arrangement (DOCA), which was agreed to by creditors in March, heads to the NSW Supreme Court this month. It must approve the transfer of Oroton shares from the current investors to Vicars' Manderrah Pty Ltd.

This means investors, and other parties, have until 4pm on July 13 to register their "grounds of opposition" to the transfer.

Given the business was on its last legs, and will not even give creditors a full return on what they are owed, we can't see much of an argument being raised by current investors.

Your columnist suggests something like, "does a fundie who owns his own block of flats on Bondi Beach, and trades in superyachts for a hobby, really need his own handbag maker?"

Especially since he is only putting $5.25 million cash into the DOCA to help keep creditors happy.

Milking it

And how could we not mention a great little fixer upper that has hit the market in country Victoria.

This modest three-bedroom, one-bathroom home - which comes with its own dairy - is up for sale following a nasty split between the couple who owned it, a retail billionaire by the name of Gerry Harvey and dairy king Alex Arena.

"Assets of this calibre and productivity rarely present themselves to market, with astute investors immediately recognising the unique characteristics that makes Coomboona Dairies an outstanding opportunity to capitalise on the ever increasing global demand for dairy," says the blurb from Elders.

Prospective buyers are not encouraged to contact any of Harvey Norman's 15,700 shareholders to get their views on the calibre of this particular asset which burnt a $100 million hole in their collective pocket.