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Midwest Vanadium Pty Limited

Appointment Type: Deed of Company Arrangement

Appointment Date: 18/02/2009

ACN: 113 874 712


Appointee(s):
Darren Weaver, Martin Jones, Andrew Saker

Office: Perth

Case Contact: Edmund Ho

Phone: +61 8 9214 1439

Fax: +61 8 9214 1400


Email: edmund.ho@perth.fh.com.au

Background Information:

Darren Weaver, Andrew Saker and Martin Jones were appointed Joint and Several Administrators of Midwest Vanadium Pty Ltd (“Midwest”) on 18 February 2009 pursuant to Section 436C of the Corporations Act 2001 and subsequently as Joint and Several Deed Administrators of the Deed of Company Arrangement executed on 24 February 2010.

Midwest is the operational subsidiary of Windimurra Vanadium Limited. The core asset of the company is the Windimurra Vanadium Project, which is based approximately 600km North-east of Perth in Western Australia.

Current Status and Actions Required by Creditors:

Varied DOCA Fully Effectuated

The Varied DOCA was fully effectuated on 21 September 2010, upon the completion of the acquisition of the Company by Atlantic Limited under the terms of the Further Revised Offer. Accordingly, the Deed Administrators and Receivers and Managers have retired on the same date.

Creditors’ Trust

All creditors’ claims are now being dealt with through the MVPL Creditors’ Trust (the Trust), which was established on 10 August 2010 pursuant to the terms of the Varied DOCA. Martin Jones, Andrew Saker and Darren Weaver were appointed as Trustees of the Trust.

A first and final dividend has been distributed in respect of employee claims, and admitted creditors whose claims are less than $5,000. As foreshadowed in the the Deed Administrators' report to creditors dated 9 April 2010, there were no surplus funds from which a dividend could be paid to creditors whose claims exceeded $5,000.

Next Milestone and Estimated Timetable:

Retirement of the Trustees and termination of the Trust after all dividend cheques have been presented and all taxation issues in the Trust have been finalised.

Documents available for download:

document type iconAmending Deed to Varied DOCA
2033 KB

Published: 14/09/2010

document type iconUpdate to Creditors
67 KB

Published: 10/08/2010

document type iconExecuted Creditors Trust Deed Dated 10 August 2010
872 KB

Published: 10/08/2010

document type iconExecuted Varied Deed of Company Arrangement dated 12 May 2010
3784 KB

Published: 12/05/2010

document type iconDeed of Company Arrangement Report and Circular
547 KB

Published: 09/04/2010

document type iconCircular and Notice to Creditors dated 3 March 2010
63 KB

Published: 26/02/2010

document type iconExecuted Holding Deed of Company Arrangement dated 24 February 2010
966 KB

Published: 24/02/2010

document type iconCircular to creditors - Administrators' Report
1150 KB

Published: 03/02/2010

document type iconExtension of 2nd Creditors Meeting
61 KB

Published: 27/11/2009

document type icon2nd Extension of Creditors Meeting
384 KB

Published: 24/09/2009

document type iconCircular to Creditors
75 KB

Published: 26/06/2009

document type iconSecond Creditors Meeting Extension
87 KB

Published: 16/03/2009

document type iconCircular to Employees - 18.Feb.2009
387 KB

Published: 18/02/2009

document type iconCircular to Creditors - 18.02.2009
206 KB

Published: 18/02/2009

 
Phone:
+61 8 9214 1444
Fax:
+61 8 9214 1400
Email:
andrew.saker@fh.com.au