Sizer Builders (WA) Pty Ltd (R&M Appt)(Admin Appt)
Background Information:
Martin Jones, Andrew Saker and Darren Weaver were appointed as Joint and Several Administrators of the Company on 17 December 2010, and subsequently Joint and Several Liquidators on 3 February 2011.
Michael Ryan and Ian Francis of Messrs Taylor Woodings were appointed as Receivers and Managers (Receivers) to the Company on 16 December 2010, pursuant to the securities held in favour of the NAB. The Receivers are presently in control of the Company’s assets and management responsibilities. Any queries in relation to the Company’s operations or post-appointment trading should be directed to the Receivers. Any queries in relation to debts owing as at 17 December 2010 should be directed to this office.
By way of background, the Company operated a construction business servicing a wide range of industries.
Current Status and Actions Required by Creditors:
At the second meeting of creditors held on 3 February 2011 pursuant to section 439A of the Corporations Act, creditors resolved that the Company be placed into Liquidation, and that Martin Jones, Andrew Saker and Darren Weaver be appointed as Joint and Several Liquidators.
Creditors also resolved that a Committee of Inspection be appointed, and that the Committee be comprised of the following members:
(i) Mr Stuart Roberts, representing Ardent Plumbing and Gas;
(ii) Mr Alan Furey, representing A.S. Furey;
(iii) Mr Bernie Thornton, representing KLM Group;
(iv) Mr Basel Naser, representing HVAR Steel Services;
(v) Ms Lin Lopez, representing Desair; and
(vi) Mr Peter Pearce, representing himself.
The Liquidators are continuing investigations into the matters raised in the Administrators' report prepared pursuant to section 439A of the Corporations Act 2001, including conducting examinations of related parties.
Subject to the outcome of such investigations, the Liquidators may initiate recovery proceedings for the benefit of creditors.
The Liquidators will continue to convene meetings of the Committee of Inspection and provide updates to creditors if the need arises.
Next Milestone and Estimated Timetable:
Completion of the Liquidators’ investigations, and lodgement of the Liquidators’ report with ASIC pursuant to section 533 of the Corporations Act.