The Bianco Companies
Appointment Type: Receivership Appointment Date: 30/06/2011 ACN: see below
Appointee(s):
Bruce Carter, David Kidman | Office: Adelaide Case Contact: Tim Asimos and Alicia Kroschel Phone: 08 8100 7600 Fax: 08 8232 4487
Email: adelaide@fh.com.au |
Background Information:
On 30 June 2011, Bruce Carter and David Kidman were appointed Receivers and Managers of the following companies (collectively “the Bianco Companies”):-
| Company | ACN |
|---|
| Bianco Steel Supplies Pty Ltd (Receivers and Managers Appointed) (Administrators Appointed) |
104 906 612 |
| Bianco Properties Pty Ltd (Receivers and Managers Appointed) (Administrators Appointed) |
119 373 036 |
| Ex BCS Pty Ltd (Receivers and Managers Appointed) (Administrators Appointed) |
103 180 516 |
| Bianco Trade Wholesalers Pty Ltd (Receivers and Managers Appointed)(Administrators Appointed) |
008 042 715 |
| BBH Merchants Pty Ltd (Receivers and Managers Appointed)(Administrators Appointed) |
008 103 660 |
On the same day, Andrew Heard and Anthony Phillips of Heard Phillips were appointed as Administrators of the Bianco Companies. The Receivers and Managers are presently in control of the Companies’ assets and management responsibilities. Any queries in relation to the Companies’ operations or post-appointment trading should be directed to the Receivers and Managers. Any queries in relation to debts owing as at 30 June 2011 should be directed to the Administrators, Heard Phillips.
Additionally, on 11 July 2011, Bruce Carter and David Kidman were appointed Receivers and Managers of the following related companies:-
| Company | ACN |
|---|
| Bianco Trade Supplies Pty Ltd (Receivers and Managers Appointed) |
007 853 312 |
| Bianco Investors Pty Ltd (Receivers and Managers Appointed) |
123 418 146 |
| Celdann Pty Ltd (Receivers and Managers Appointed) |
008 206 835 |
Please note the appointments do not include the Bianco Hire, Bianco Precast and Bianco Reinforcing businesses.
Current Status and Actions Required by Creditors:
The Receivers and Managers assessed the financial position and viability of the Steel business of the Companies, and took the decision to cease trading on 12 July 2011.
The Receivers and Managers are pleased to announce that the Bianco Diamond Tools division of the Bianco Companies was sold to Bianco Diamond Tools Australia Pty Ltd and settled on 15 August 2011.
Further, the Receivers and Managers have sold the Hardware, Safety and Machinery divisions of the Companies to Bianco Hardware Supplies Pty Ltd, which settled on 10 October 2011.
All employees of the divisions have been transferred to the respective Purchasers.