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the company is deregistered | 01/08/2006 |
receivers advise they have almost completed their administration - there will be no return to unsecured creditors or to shareholders - Bill Cotter of Knights Insolvency Administration has been appointed Liquidator | 05/08/2004 |
receivers are now in the final stages of their administration and retiring as receivers - control of the company will pass to the second secured creditor to whom the receivers have remitted surplus funds - the second secured creditor will incur a significant shortfall based on information available to the receivers and therefore it is highly unlikely that any funds will be available for unsecured creditors or shareholders | 14/02/2004 |
a loss declaration has been issued and the capital loss can therefore be claimed in the financial year the declaration is issued | 05/02/2004 |
there have been no changes re the status of the company - the receivers are moving to finalise their administration as quickly as possible following settlement of litigation - there will be a large shortfall to the second secured creditor and receivers do not know, at this point, what further action they will take ie. appoint a receiver or liquidator | 28/09/2003 |
seeking update | 25/09/2003 |
receivers advise the issues are being resolved - there will be no return to shareholders and we have asked the receivers to advise of the possible timing for the company to go into liquidation | 22/07/2003 |
receivers advise that all of the physical assets have been realised - the only known other potential recoveries are from debt recovery actions being taken against former clients of ICM - whilst these are potentially significant if successful, current indications are that any amounts recovered will not be sufficient to repay the claims of the secured creditors in full - consequently it is highly unlikely that any funds will be available for distribution to unsecured creditors or shareholders - given that the debt recoveries involve litigation no timetable can be provided for when the receiver will retire - it could be in excess of a further 12 months if the matters are not settled | 24/02/2003 |
receivers issue a letter saying there is not likely to be any return to shareholders - but as the outcomes depend on litigation it will be some time before the exact position is known | 31/07/2002 |
still realising assets for benefit of secured creditor | 31/07/2002 |
suggestion by receivers that control may be returned to directors when their job is completed | 31/07/2002 |
further litigation underway | 27/07/2002 |
company vacated leased premises in North Ryde | 18/10/2001 |
business unable to be sold as a going concern - remaining plant and stock sold by public auction | 09/10/2001 |
company delisted | 30/08/2001 |
delisted due to failure to pay annual listing fee | 30/08/2001 |
business effectively closed prior to appointment of receivers on 23 July 2001 | 23/07/2001 |
directors request that secured creditor appoints a receiver | 23/07/2001 |
RA Ferguson and KW Skinner of Deloittes appointed receivers and managers on behalf of NAB | 23/07/2001 |
company's shares suspended from trading | 12/07/2001 |
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Date of first appointment, title may have changed.
| NAME | TITLE | DATE OF APPOINTMENT | DATE OF RESIGNATION |
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Date of first appointment, title may have changed.
