COPLEX RESOURCES NL(CXR)

company deregistered 12/05/2013

Strike-Off Action In Progress

the case against the previous administrator settled in February 2008 - litigation funder, IMF, reported that it expected to receive about $1.6m on an investment of about $0.8m and capitalised costs of $0.3m

Apology and Clarification to Mr Garry Trevor of Ferrier Hodgson - We acknowledge that we made a number of postings at this location (particularly on 15 and 29 April 2008) which were defamatory of, and damaging to, Mr Garry Trevor (liquidator of Coplex Resources NL). We accept that those postings should never have been made as they were false in the allegations and criticisms made of Mr Trevor and his performance as liquidator of Coplex Resources NL. We apologise to Mr Trevor for any distress or damage caused by the postings.

a loss declaration has been issued and the capital loss can therefore be claimed in the financial year the declaration is issued

the court extends the time the respondents have to file any expert reports until 20 August 2007 - the directions hearing is adjourned to 28 August 2007 - the liquidators believe it is unlikely the matter will proceed to trial until at least February 2008

the court gives certain orders in relation to the provision of documents and reports and adjourns the directions hearing until 20 June 2007

the court makes orders adjourning a directions hearing until 6 March 2007 as respondents have not yet provided their expert reports

the company's final "expert" evidence is filed with the court

the process of "discover" has been completed and the majority of the evidence filed and served - the respondents' evidence is due in January 2007 and the liquidator estimates that trial will commence mid to late 2007 - (to the many shareholders who have been enquiring: this is likely to be a long, drawn-out process and you should not get too optimistic about the outcomes)

the liquidator advises he has commenced proceedings against the company's previous Administrators and Deed Administrators - the claim relates to the sale of Coplex's interest in a Canadian public company Petrolex - the outcome will largely depend on expert valuation evidence - the matter has been re-listed for further directions on 6 July 2006 - any return to shareholders is dependent upon the outcome of this action

in relation to our note of 27/6/2005 below, we understand IMF (Australia) Limited is funding the liquidator to carry out a public examination of the company's previous administrator and other persons connected with the administration, including the solicitors acting for the administrator - depending upon the outcome of the public examination IMF will then fund an action in damages against the administrator for an amount in excess of $20 million

liquidator reports a potential claim against the company's previous Administrators and Deed Administrators - if it were to be successful there is a possibility of a return to shareholders (in our view, if there was to be a distribution, it would be made to shareholders on the register on the day the company went into administration - 16 May 1999)

liquidator reports that investigations in relation to the insolvency action are still on foot - a number of public examinations have been completed in relation to this matter - a better understanding of the company's prospects will be obtained over the next six months

according to a release by IMF (Australia) Limited, it is funding an insolvency action against the company with a maximum claim value of $10m and it expects the case to be completed by 30 June 2006

we have been seeking an update from the Liquidators Ferrier Hodgson (Harry Spindler) since 4 September 2004

the Liquidator is still in the process of finalising his investigations into the affairs of the company - it is anticipated that these investigations will not be finalised by 30 June 2004 - accordingly, it is unlikely that the Liquidator will be in a position to provide a declaration pursuant to s 104-145 of the Income Assessment Act 1997 before 30 June 2004

it may be some time before a liquidators declaration can be issued

Liquidator advises initial public examinations are to start Thursday, 13 May 2004 before the Federal Court of Australia - due to the addition of parties to be examined and complexity of the matter, it is not expected that the Liquidator will be in a position to advise the likely outcome to shareholders before 30 June 2004 - accordingly, a declaration pursuant to s 104-145 is unlikely to be made

liquidator advises he is considering his options to formally examine additional parties - "as such, the examinations have been delayed so these additional parties may be examined in priorit"

liquidators are yet to finalise their investigations into the affairs of the company - it is intended to hold informal examinations of related parties towards the end of January 2004 - they anticipate that it will still be some time before they will be in a position to provide shareholders with their opinion

liquidators advise they have not finalised their investigation pursuant to the Corporations Act 2001 and accordingly are still not in a position to provide an opinion on the likely outcome for shareholders

liquidators advise they have not finalised their investigation pursuant to the Corporations Act 2001 and accordingly are still not in a position to provide an opinion on the likely outcome for shareholders

liquidators confirm they are still proceeding with their investigations into possible recoveries and are unable to indicate yet when or whether they will be in a position to issue a liquidators declaration

delisted due to failure to pay annual listing fee

liquidators awaiting information from directors and conducting investigation into possible recoveries

G Trevor of Ferrier Hodgson appointed liquidator

directors indicate company insolvent or likely to become so in the near future

directors resolve to make application to the court to appoint a liquidator

control of company returned to directors

Pierpont writes in AFR

M Humphris and L Fitzgerald became joint and several Deed Administrators under a Deed of Co Arrangement

suspension from quotation

M Humphris of Sims Lockwood appointed voluntary administrator

name changed from Charter Union Gold NL