On 25 May 2009 Morgan Kelly and John Melluish were appointed Voluntary Administrators of the company and subsequently appointed liquidators at the second creditor’s meeting held on 30 June 2009.

We have now completed our investigations into the affairs of the company and have reported our findings to the Australian Securities and Investments Commission. Refer to 'Documents available for download' to access the Report to Creditors dated 7 December 2009 for details of our investigations.

A meeting of creditors will be held at the offices of Ferrier Hodgson, Level 13, 225 George Street, Sydney on 20 January 2010 at 10:00am. Creditors who have not previously lodged a claim with the Liquidators are requested to prove their claims and complete a Formal Proof of Debt form. Appointment of Proxy forms to be used at the meeting should be lodged at the office of the Liquidators prior to 4:00pm on 19 January 2010. All relevant forms to be completed in relation to this meeting are attached to the Report to Creditors dated 7 December 2009.

A first dividend for unsecured creditors is to be declared on 28 January 2010. Creditors are formally required to prove their debt or claim on or before 12 January 2010. All relevant notices to creditors in relation to this dividend are attached to the Report to Creditors dated 7 December 2009.

We had noted in our report pursuant to section 439A that the primary issue associated with the realisation of debtors related to the warranty provided by the Company for the products distributed. An agreement has now been reached whereby the warranty claims of all customers of the Company will be honoured on the condition that the total outstanding debt owed to the Company is paid in full. In this regard, collections are progressing and will be reviewed in due course to determine the need to refer unpaid accounts to a debt collection company.

Once all debts have been collected, we will declare a final dividend and proceed to finalise the liquidation of the Company.