to creditors - ferrier hodgson /media/ferrier/files/documents... · to creditors dear sir/madam

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  • 9 July 2013

    TO CREDITORS

    Dear Sir/Madam

    Drilling & Grouting Services Pty Ltd (Administrators Appointed) (the Company) ACN 009 457 087

    I refer to the appointment of Darren Weaver, Ben Johnson and I as Joint and Several Administrators of the Company on 11 June 2013 pursuant to Section 436A of the Corporations Act 2001 (the Act). Creditors ratified our appointment at the first meeting of creditors held on 21 June 2013. At that meeting, creditors resolved to appoint a Committee of Creditors. Please find enclosed my report to creditors pursuant to Section 439A(4)(a) of the Act. You will note there is no proposal for a Deed of Company Arrangement between the Company and its creditors. Accordingly, I have convened a second meeting of creditors to consider and if thought fit resolve that the second meeting of creditors be adjourned for a period not exceeding 45 business days. I enclose the following with respect to the meeting of creditors: 1. Notice of Meeting. Please note that the concurrent meeting of creditors commences

    on Tuesday 16 July 2013 at 10:00am (WST) at the Rydges, 815 Hay Street PERTH WA 6000. You should arrive for registration at least thirty (30) minutes prior to the meeting.

    2. Informal Claim for Voting Purposes. If you submitted one of these for the purpose of

    the first meeting of creditors, you do not need to submit another one for this meeting unless you seek to amend your claim.

    A person is not entitled to vote at the meeting unless they provide particulars of the debt or claim to the Administrators before the meeting. Please note this form is for voting purposes only. All creditors must furnish full details of their claim, indicating whether they rank as secured, preferential or unsecured, and whether they claim title to any goods supplied to the company or any lien/pledge over goods in their possession which are property of the company.

    3. Appointment of Proxy form. The form enables you to appoint another person to act on

    your behalf at the meeting. Proxy forms submitted for the first meeting of creditors are not valid for this meeting.

    The Informal Claim Form for Voting Purposes and Proxy Form should be lodged with the Ferrier Hodgson Perth office before the meeting and in any event, not later than 4:00pm on the day prior to the meeting.

  • Forms can be sent by facsimile on (08) 9214 1400 marked to the attention of Jerome Perera or scanned and emailed to jerome.perera@fh.com.au. However, Corporations Regulation 5.6.36A requires lodgement of the original of the Proxy Form with the Administrators office within 72 hours of lodging the faxed/emailed copy.

    4. First Administrators report to creditors pursuant to Section 439A(4)(a) of the Act

    which includes an opinion, with supporting reasons, on each of the following matters:

    1) Whether it would be in creditors interest for the second meeting of creditors to be adjourned for a period not exceeding 45 business days.

    2) Whether it would be in the creditors interest for the Company to be wound up. 3) Whether it would be in the creditors interest for the administration to end.

    Administrators Remuneration The Administrators report includes detailed schedules explaining their remuneration claim setting out:

    Details of time spent by category of staff at the rates applicable for such staff A summary of the work undertaken by the Administrators and their staff in the

    administration Estimate of time for the period between the meeting and execution of DOCA

    should the Administration continue in the event a DOCA is approved. Liquidators Remuneration Where creditors resolve that the Company be wound up, the Liquidators intend that their remuneration be fixed on the basis of time spent by then and their staff of an appropriate level having regard to the return and complexity of the work and calculated by reference to the hourly rates as set out in the accompanying remuneration report send out for the purpose of the second meeting of creditors. A schedule of the Liquidators anticipated tasks is also detailed in the attached remuneration report. For further information concerning the Voluntary Administration process at Ferrier Hodgson, you may wish to visit our website at www.ferrierhodgson.com. Should you have any queries in relation to the administration or the enclosed report, please do not hesitate to contact Dario Musulin or Kinjal Vakil of this office.

    Yours faithfully

    Drilling & Grouting Services Pty Ltd

    Andrew Saker

    Joint and Several Administrator

    Encl.

    http://www.ferrierhodgson.com/mailto:jerome.perera@fh.com.au

  • FORM 529A

    CORPORATIONS ACT 2001

    Paragraph 5.6.12(2)

    DRILLING & GROUTING SERVICES PTY LTD

    (ADMINISTRATORS APPOINTED) (THE COMPANY) ACN 009 457 087

    NOTICE OF SECOND MEETING OF CREDITORS OF THE COMPANY UNDER ADMINISTRATION

    NOTICE is given that the second meeting of creditors of the Company will be held at the Rydges Perth

    Hotel, 815 Hay Street, PERTH WA 6000 on 16 July 2013 at 10:00am (WST).

    AGENDA

    1. To receive a Statement of the Companys business, property, affairs and financial circumstances. 2. To receive the first report from the Administrators. 3. Questions from Creditors 4. For creditors to resolve:

    That the second meeting of creditors be adjourned for a period not exceeding 45 business days; or

    The Administration should end; or

    That the Company be wound up.

    5. To approve the remuneration of the Administrators

    6. If the Company is wound up, to consider appointing a Committee of Inspection.

    7. If no Committee is appointed, to fix the remuneration of the Liquidators.

    8. If no Committee is appointed, to consider destruction of the books and records at the conclusion of the winding up.

    9. Any other business that may be lawfully brought forward

    Proxies to be used at the meeting should be lodged at the office of the Administrators by 4.00pm on the day prior to the meeting. A corporation may only be represented by proxy or by an attorney appointed pursuant to Corporations Regulations 5.6.28 and 5.6.32 inclusively or, by a representative appointed under Section 250D of the Corporations Act 2001. In accordance with Regulation 5.6.23(1) of the Corporations Regulations, creditors will not be entitled to vote at the meeting unless they have previously lodged particulars of their claims against the company with in accordance with the Corporations Regulations and that clause has been admitted for voting purposes wholly or inpart of the Administrators.

  • Pursuant to Corporations Regulations 5.6.13A, creditors attending the meeting telephonically arerequired to provide a written statement to the Administrators setting out the appointed proxy, the address and facsimile to which notices are to be sent, a telephone number at which the proxy may be contacted on and submit a proxy form with the Administrators by 4.00pm on 15 July 2013. Parties attending by telephone do so at their own cost and are not entitled to be reimbursed for any costs in attending.

    Telephone No.

    (tollfree within Australia) Passcode

    1800 672 949 7531 5052 6158

    International callers should contact my office for toll free international numbers. Any creditors wishing to attend via telephone must register with my office 24 hours prior to the meeting.

    DATED this 9th day of July 2013

    Andrew Saker

    Joint and Several Administrator

  • INFORMAL PROOF OF DEBT FORM

    Regulation 5.6.47

    DRILLING & GROUTING SERVICES PTY LTD (ADMINISTRATORS APPOINTED) (THE COMPANY)

    ACN 009 457 087

    Name of creditor: ..................................................................................................................................... Other trading names: ..................................................................................................................................... Address of creditor: ..................................................................................................................................... ..................................................................................................................................... ABN: ..................................................................................................................................... Telephone number: ..................................................................................................................................... Email address: ..................................................................................................................................... Amount of debt claimed: $ ........................................................ (including GST $ ............................................... ) Consideration for debt (i.e. the nature of goods or services supplied and the period during which they were supplied): ...................................................................................................................................................................................... ...................................................................................................................................................................................... Is the debt secured? YES/NO If secured, give details of security including dates, etc: ...................................................................................................................................................................................... ...........................................................................

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