Peter McCluskey and George Georges were appointed Voluntary Administrators of the Company pursuant to section 436A of the Corporations Act 2001 (“the Act”) on 15 July 2010.
The Company is a Pharmacy Systems Company providing Australian Pharmacies with consulting services, automated systems, dose administration aids and deblistering equipment.
The Administrators took control of the Company’s operations and conducted an assessment of the Company’s financial position. The Company’s directors have been requested to prepare a statement about the Company’s business, property, affairs and financial circumstances as at the date of appointment.
A copy of our first letter to creditors dated 16 July 2010 is now available below and has been sent to all known creditors.
The Administrators prepared a report to creditors dated 10 August 2010 under section 439A of the Act including details regarding the Company’s business, property, affairs and financial circumstances which was sent to all known creditors.
The creditors resolved to wind up the Company at the 2nd meeting of creditors held on 19 August 2010.
Persuant to section 499(2A) of the Act, in the absence of any other nomination to act as Liquidator, the Administrators become the Liquidators for the purpose of winding up the Company’s affairs and distributing its property.