ASIC Published Notices

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

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

Agenda items are:

1. to receive and consider a report from the liquidator(s)
2. to fix or determine the remuneration of the liquidator(s)
3. to fix or determine the future remuneration of the liquidator(s)
4. to appoint a committee of inspection and, if so, who are to be the committee members
5. to consider the early destruction of books and records

"That the remuneration of the Official Liquidator be calculated on the basis of time spent by the Official Liquidator, his partners and staff by reference to the scale of hourly rates adopted by Lowe Lippmann Chartered Accountants for insolvency work as set out in the circular to creditors dated 8 February 2013, and be fixed at $169,369.90 plus applicable GST, for the period 1 February 2012 to 31 January 2013 and may be paid from time to time as determined by the Liquidator." and

"That the future remuneration of the Official Liquidator be calculated on the basis of time spent by the Official Liquidator, his partners and staff by reference to the scale of hourly rates adopted by Lowe Lippmann Chartered Accountants for insolvency work as set out in the circular to creditors dated 8 February 2013, and be capped at $131,983.50 plus applicable GST, for the period 1 February 2013 to completion with increases in the rates not to exceed CPI plus 10% for any 12 month period commencing 1 July each year and may be paid from time to time as determined by the Liquidator."

Authority under Section 477(2A). "That pursuant to section 477(2A) of the Corporations Act 2001, creditors authorise the Liquidator to compromise any debt due to the Company for an amount and on such terms as the Liquidator deems appropriate."

Authority under Section 477(2B). "That pursuant to Section 477(2B) of the Corporations Act 2001, creditors authorise the Liquidator to enter into an agreement on the Company's behalf where the term of the agreement or the obligations of a party to the agreement may be discharged more than 3 months after the agreement is entered ".

Disposal of Books and Records. "That subject to obtaining Australian Securities and Investment Commission's approval pursuant to section 542(4) of the Corporations Act 2001, the books and records of the Company and the Liquidator be disposed of by the Liquidator 6 months after the dissolution of the Company".

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

Gideon Isaac Rathner
Official Liquidator