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Appointment Type: Creditors Voluntary Liquidation
Appointment Date: 19/11/2009
ACN: 052 046 536
Appointee(s):Martin Jones, Andrew Saker, Darren Weaver, James Stewart
Office: Perth
Case Contact: GSL Hotline
Phone: 1800 258 348
Martin Jones, Andrew Saker, Darren Weaver and James Stewart were appointed as Joint and Several Administrators of Great Southern Limited on 16 May 2009 and subsequently appointed as Joint and Several Liquidators on 19 November 2009.
An overview of the company's business and operations is available by referring to the Administrators Report on our website.
The second meeting of creditors of Great Southern Limited was held on 19 November 2009.
The outcome of the second meeting was that Great Southern Limited was placed into liquidation and a Committee of Inspection was appointed. The members of the Committee of Inspection for Great Southern Limited are as follows:
The Liquidators are currently in the process of carrying out further investigations in relation to the business, property, affairs and financial circumstances of Great Southern Limited.
We have identified a number of potential claims which may lead to recoveries for the benefit of Great Southern Limited's creditors and will shortly be reporting to ASIC on these matters.
At this stage, we have yet to determine the value of any dividends that may be available to unsecured creditors of Great Southern Limited in relation to their pre-appointment liabilities. This will ultimately be dependent upon the realisation of the company's assets and any recoveries that may be available for the Liquidators to pursue due to breaches of the Corporations Act.
We have received correspondence from the Receivers and Managers indicating that they do not anticipate finalising the sale of the company's assets until around 30 September 2010 and we will provide a further update to stakeholders closer to that date.
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