ASIC Published Notices

Notice is given that a second meeting of the creditors of the Company, or a second meeting for each of the Companies, (for multiple companies), will be held:

(If multiple companies, see special instructions for meeting times)

The purpose of the meeting(s) is:

1. to receive the report by the Administrator(s) about the business, property, affairs and financial circumstances of the Company(ies); and
2. to receive a statement of Administrator(s) opinion and reasons for the opinion:
   1. whether it would be in the creditors' interests for the Company(ies) to execute a deed of company arrangement;
   2. whether it would be in the creditors' interests for the administration to end;
   3. whether it would be in the creditors' interests for the company to be wound up;
3. to receive a statement of such other information known to the administrator as will enable the creditors to make an informed decision about the matters at paragraphs 2(a) – (c) above;
4. to receive details of any transactions that appear to the Administrator(s) to be a voidable transaction in respect of which money, property, or other benefits may be recoverable by a liquidator under part 5.7B of the Act
5. to receive details of any proposed deed of company arrangement; and
6. for the creditors of the Company(ies) to resolve that:
   1. the Company(ies) execute a deed of company arrangement; or
   2. the administration(s) should end; or
   3. the Company(ies) be wound up.

Other agenda items are:

1. To consider the Second Concurrent Report to Creditors and Statement by the Administrators pursuant to Insolvency Practice Rules (Corporations) 2016 ("IPR") rule 75-225(3)

2. To consider and resolve one of the following proposals for the Companies' future:
(a) That the Companies enters into Deed of Company Arrangements pursuant to Section 439C(a) of the Corporations Act (where deeds are proposed);
(b) That the Administrations end, pursuant to Section 439C(b) (This course of action is not recommended);
(c) That the Companies be wound up pursuant to Section 439C(c); or
(d) That the Second Concurrent Meeting be adjourned (This course of action is not recommended).

3. To confirm the Appointment of the Voluntary Administrators as Liquidators of the Companies, in the event that resolutions are passed that the Companies be wound up.

4. To consider and approve:
The remuneration of the Administrators of each of the Companies up to the date of the Appointment of Liquidators.
The remuneration is to be fixed, in respect of the Administrators and their employees, at the hourly rates of the Administrators' firm consistent with practice statements issued by the Australian Restructuring Insolvency and Turnaround Association ("ARITA"); and that the Administrators shall be authorised to draw such remuneration from time to time from monies held by them as Administrators. The remuneration is subject to an interim cap or limit, to be detailed at the Second Concurrent Creditors' Meeting.
In addition to remuneration charged on a time basis, creditors will be asked to consider and approve a further fixed fee remuneration charge of $950.00 per annum, excluding GST, for each Administration, to reflect the compulsory levies imposed by ASIC on insolvency practitioners.

5. To consider and approve:
The interim remuneration of the Liquidators from the date of Liquidation of each of the Companies. The remuneration is to be fixed in respect of the Liquidators and their employees at the hourly rates of the Liquidators' firm consistent with practice statements issued by the Australian Restructuring Insolvency and Turnaround Association ("ARITA"); and that the Liquidators shall be authorised to draw such remuneration from time to time from monies held by them as Liquidators. The above remuneration is subject to a cap or limit, to be detailed at the Second Concurrent Creditors' Meeting.
In addition to remuneration charged on a time basis, creditors will be asked to consider and approve a further fixed fee remuneration charge of $950.00 per annum, excluding GST, for each Administration, to reflect the compulsory levies imposed by ASIC on insolvency practitioners.

6. In the event that resolutions are passed that the Companies be wound up, to consider and if thought fit authorise the destruction of the books and records following deregistration of the Companies, subject to the consent of the Australian Securities and Investments Commission.

7. In the event that resolutions are passed that the Companies be wound up, to consider and if thought fit form a Committee of Inspection in the Liquidation of the Companies.

8. To consider any matter which may be properly brought before the Meeting.

Creditors wishing to attend are advised proofs and proxies are to be submitted to the Administrator by:

Special Instructions:
Due to the threat of COVID-19 and consistent with government policy on gatherings, a virtual meeting will be held by teleconference. Creditors are therefore expected to attend by electronic means, and no physical place of meeting is provided.

Please contact Daisy Feng of this office to request teleconference information via email: dfeng@dvtgroup.com.au by no later than 4:00 pm on Thursday, 14 May 2020.

Mark Robinson - Joint & Several
Administrator

Mark Robinson and Riad Tayeh
Joint Appointees