hmp constructions pty ltd (receivers appointed ... · hmp constructions pty ltd (receivers...
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Liability limited by a scheme approved under Professional Standards Legislation.
Circular to Creditors
9 September 2009 Ref: NH:JET:060709
Dear Sir/Madam
HMP Constructions Pty Ltd (Receivers Appointed) (Administrators Appointed) ACN 109 896 013
We refer to our appointment as Administrators of HMP Constructions Pty Ltd (HMP).
Please find enclosed a copy of the supplemental Section 439A Report to Creditors together with the following documents:
• Form 529 - Notice of second meeting of creditors
• Form 532 - Appointment of proxy
• Form 535 - Formal proof of debt or claim.
If a creditor wishes to rely upon the Proof of Debt they lodged at the first meeting of creditors they must make reference to that Proof of Debt when submitting a proxy, or when attending the second meeting of creditors.
Please ensure that you complete the relevant company proxy and proof of debt to which you are a creditor.
Should you have any queries and/or require any additional information, please contact Lorraine Smith on (07) 3308 7222 or via [email protected].
Yours faithfully Nicholas Harwood & John L Greig Administrators
Deloitte Touche Tohmatsu ABN 74 490 121 060 Riverside Centre Level 25 123 Eagle Street Brisbane QLD 4000 GPO Box 1463 Brisbane QLD 4001 Australia DX: 115 Tel: +61 (0) 7 3308 7000 Fax: +61 (0) 7 3308 7002 www.deloitte.com.au
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MP Conseceivers dministr
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AppAppApptradiApp
AbDemuclaproDeanleastr Dewhthe AbIn seresdeco Liab
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ontents
Executive s.1 Purpos.2 Investi.3 Option.4 Source
IndependenSummary o
.1 DOCA
.2 AdminAdministra
.1 Admin
.2 AdminAdministraAdministraEstimated s
.1 High o
.2 Low o
.3 Notes
.4 Overal
.5 LiquidVoluntary A
.1 Appro
.2 Appropendix A – Dpendix B - Stpendix C – Cing ...............
pendix D - Cr
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The WesYTD
ort for HMP Consptember 2009
efinitions
ministrators pointment Da
C O A
mmittee mpany or HM
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nagement mt accounts B
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structions Pty Ltd
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ate
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s pursuant to orge and NAam Martin Cspecific fixedorge Bank Lorations Act Federal Courtts orations Regupac Banking to date
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ties & Investon Office Alliance editors ns Pty Ltd (R
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y Arrangemeent of positioors Pty Ltd ded 30 June 2Pty Ltd
HMP Construounts a Bank Ltd orelated partyirs rgan Kelly aivers and Matheir fixed c
AB appointedolwell of Ferd assets pursu
Ltd 2001 t of Australia
ulations 200Corporation
Lethbridge Ge appointmenructions Pty tments Comm
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The meeto derecoSept
ort for HMP Consptember 2009
Execut John Greig
31 March 200ependent insoolvent compams are put onditors with in
ditors will al
March 2009
March 2009
Purpossupple
tion 435A ofbusiness, pro
administered
maximises th
f it is not poscreditors and
tion 438A ofconsider pos
ure of the comters:
whether it woArrangement
whether it woreturned to th
whether it wo
ditors will beuly 2009. At lised due to o
ministrators rournment of tlored furtheriness days by
Administrateting of crediecide HMP’s
onvening the tember 2009
structions Pty Ltd
tive sumand Nichola09. The purpolvency pracany or one thn hold. At th
nformation an
lso be aware
- GitGfi
- Na
se of theemental rf the Act statoperty and afin a way tha
he chances of
ssible for thed members th
f the Act requssible coursempany and gi
ould be in cret (DOCA); or
ould be in crehe directors;
ould be in cre
e aware that that time a pongoing negrecommendethe 2nd meeti
r. The creditoy creditor res
tors are now itors and provs future. Pur2nd meeting
9 at 10.30am
mmaryas Harwood, pose of the a
ctitioner to tahat is expectehe end of thand recommen
of the additi
GE appointedt had finance
GE also enterfinanced thro
NAB and St Gassets they ha
e adminisreport toes that the obffairs of an inat either:
f the compan
e company tohan would res
uires the Admes of action. ive reasons f
editors’ interr
editors’ interor
editors’ inter
the Adminisproposal for
gotiations reged against theing of creditoors meeting solution.
required to pvide them wrsuant to sectof creditors.at Deloitte, L
were appoinappointment ake control oed to becomeat period the ndations to a
ional appoint
d Receivers aed. red into possugh a bailme
George appoad financed.
stration ao creditor
bjective of a nsolvent (or
ny continuing
o continue trasult from an
ministrator toThe Admini
for that opini
rests for the c
rests for the a
rests for HM
trators issueda DOCA wa
garding a drye above 3 outors to allow theld on 14 Ju
provide credwith informati
tion 439A(3). The reconvLevel 25, 12
nted as Volunof an Adminf and investi
e insolvent. DAdministrato
assist them to
tments as fol
and Manager
ession of cerent facility.
ointed Receiv
and Admrs Voluntary Alikely to bec
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ading, resultimmediate w
o investigateistrator is to ion in relatio
company to
administratio
MP to be woun
d their reportas being prepy hire arrangetcomes and rtime for the Duly 2009 wa
itors with noion and recom) of the Act, ened meeting
23 Eagle Stre
ntary Admininistrator is togate the affaDuring that tor is requiredo decide upon
llows:
rs to heavy e
rtain compon
vers to the he
ministrato
Administratioome insolven
s in a better rwinding up.
e the affairs oform an opin
on to each of
execute a De
on to end and
nd up.
t pursuant topared, but waement. ConsrecommendeDOCA propo
as adjourned
otice of the remmendationwe have attag is to be hel
eet, Brisbane.
istrators of Ho allow for anairs of an time creditord to provide n HMP’s fut
quipment as
nents it had
eavy equipm
ors’
on is to allownt) company
return for
of the companion about ththe followin
eed of Comp
d control be
o S439A on as unable to bsequently theed an osal to be for up to 45
econvened ns to assist thached a noticld on 16 .
Page 4
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rs’
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1.4Thisandthe pwwwAdm
ort for HMP Consptember 2009
2 Investition 438(A)(Administratoumstances.
investigatiosactions entesactions”. Auidator migh
ur report datappointmentnge that viewsactions in a
3 Option
ddition to invministrators tnion in relatio
whether it wo
whether it woend; or
whether it wo
ditors will th
he time of istract would rended period maintenancetract were beointors. In thised the Admntenance andparty collap
such we haveditors.
s our opinioncreditors’ inand control
ection 6 of t
4 Sources supplemen
d not in placeprevious repw.deloitte.coministration,
structions Pty Ltd
igations a) of the Actor must inves
ns are primaered into prioAn Administht have cause
ted 7 July 20t. We have n
w. Consequea liquidation
ns for cre
vestigating thto form an opon to each of
ould be in the
ould be in the
ould be in the
hen be requir
suing our S4result in approf time. It w
e and manageeing managedhe week com
ministrators ad managemenpsed and all oe not receive
n that it is innterests for l be returnehis report.
es of infontal second re of the secoort, copies o
om.au under or by contac
t provides thstigate the co
arily to determor to the appotrator is also e for action ag
09 we statednot identifiedently, we havscenario.
editors a
he affairs of pinion about f the followin
e interests of
e interests of
e interests of
ed to vote on
439A report oroximately 1/was also expement servicd by the Rec
mmencing 3 Aand Directorsnt contract toof the equipmed a DOCA p
n the creditothe compan
ed to the dire
ormationreport to cre
ond report tof which can Services/Cor
cting Lorrain
at as soon asompany’s bu
mine whetheointment of trequired to dgainst the Di
d that we did d any additiove not assum
and recom
f the Companthe future of
ng matters:
f creditors’ fo
f creditors’ o
f creditors’ th
n these matte
on 7 July, it /3 of the totaected that HMes for the dryeivers (GE, NAugust 2009s of the Receo HMP. Sub
ment has nowproposal that
ors’ interestny to executeectors. The
n editors muso creditors dbe obtained rporate Reor
ne Smith on 0
s possible aftusiness, prope
er a liquidatothe Administdetermine whirectors.
not believe Honal informatmed any recov
mmenda
ny, Section 4f the Compan
for the Comp
of the Compa
hat the Comp
ers.
was expectedal equipmentMP would sey hire contraNAB and St
9 the Receiveeivers’ decisibsequent to thw been includ
is capable o
ts for HMP te a DOCA o reasons for
t be strictly dated 7 Julyfrom the Del
rganisation/B07 3308 7222
ter an adminierty, affairs a
r can recovetrator, knownhether, in his
HMP was intion that wouveries from i
ations
38A of the Any and give
pany execute
any for the ad
pany be wou
d that a propt fleet being uecure a contr
act. NegotiatGeorge) on
ers (NAB andion not to awhat negotiatided in a tendof being cons
to be woundr for the ad
r this opinio
read in cony 2009. We rloitte web sit
Businesses un2.
istration begand financial
r funds fromn as “insolves view, a
nsolvent prioruld lead to usinsolvent
Act requires treasons for t
a DOCA; or
dministration
und up.
posed dry hirutilised for aract to providtions for the behalf of the
d St George)ward the
ons with the der sale procesidered by
d up. It is noministrationn are outlin
njunction wirefer creditorte at nder
Page 5
ins l
m ent
r to s to
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r
n to
re an de
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ot in n to
ned
ith rs to
5
Repo9 Sep
Thisbookcertaperfinve
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•
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We therrelatstatu
A DApp
3
3.1On 7HMhire credBaseto prAt thto adprog Sincthe oapprrisksabovcredonlyencofor a
ort for HMP Consptember 2009
s report has bks and recordain matters oformed an auestigations, w
ASIC
HMP books
questionnai
discussions
extensive di
ilst we have ht to alter ournge from the
Indepeor to our appo
a professionP. Our pre apotential risks
have and wie is any matttion to this aute.
Declaration ofpendix A.
Summa
DOCA 7 July 2009 wP, Bernard Oof certain eq
ditors to enabed on the infrovide a betthe 2nd meetindjourn the mgress their D
ce the adjouroperations anreciate the cos that can affve and our beditors we cony be finalisedompassed ama period of tw
structions Pty Ltd
been prepareds of HMP. Wof which we udit of HMP. we have utilis
s and records
res complete
with directo
iscussions w
no reason to r conclusions date of this
endenceointment, nei
nal, personal ppointment cs to our indep
ll continue toter that givesdministration
f Independen
ary of a
proposawe circulated
O’Neill and Aquipment. Wble terms to bformation to ter return to ang of credito
meeting for a OCA propos
rned 2nd meetnd affairs of ontinued opefect trading relief that a su
ntinued to alld once the termongst other wo years.
d primarily fWe have invare not awar In order to
sed informat
s
ed by the dire
ors, managem
with the Direc
doubt any ins should the ureport.
e statemither of us noor business rconsiderationpendence.
o undertake os rise to any cn, other than
nce, Relevan
adminis
al d a 2nd reportAnthony Ivor
We recommenbe negotiatedhand at that all classes of
ors held on 14period of upsal and prese
ting of creditHMP and m
eration of a bresults, howeuccessful oulow the businrms of the drthings, a por
from informavestigated there, or which wcomplete thiion from:
ectors
ment and staf
ctors and Rec
nformation cunderlying d
ment or the firm Drelationship wn of the risks
our duties inconflict of in
n any indemn
nt Relationshi
tration
t to creditorsry, intended
nded to credid and allow ttime we beli
f creditors th4 July 2009 t to 45 busine
ent a final ver
tors held on monitor the drbusiness undeever, given thtcome couldness to trade.ry hire were rtion of HMP
ation receivee affairs of Hwe have not is report, and
ff
ceivers.
contained in tdata prove to
Deloitte, of wwith the offis to our indep
ndependentlynterest. We hnities that we
ips and Indem
to date
s which advisto propose ators to adjouthe option to ieved that thean the immethose presentess days to alrsion to the A
7 July 2009 wry hire negoter administrahe reasons fo
d be achieved. The terms ofinalised. ThP’s equipmen
ed from the dHMP howeve
been advisedd in conducti
this report, wbe inaccurat
which we are cers or sharependence ide
y, and do not have not beee may be enti
mnities is att
sed that the da DOCA baseurn the 2nd me
be progressee DOCA prodiate windint and/or reprllow the direAdministrato
we have contiations. As yation presentor the adjournd for the beneof the proposhe DOCA pront being plac
directors and er there may d. We have ning our
we reserve thte or materia
partners, haveholders of entified no re
believe that en indemnifieitled to under
tached as
directors of ed on the dryeeting of ed and analy
oposal was likng up of HMPresented resoectors to furthors.
ntinued to conyou may s many inhernment outlinefit of all sed DOCA coposal as it sced on dry hi
Page 6
the be
not
he ally
ve
eal
ed in r
y
ysed. kely P.
olved her
ntrol
rent ned
ould stood ire
6
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The witharranGeobetwthat prov
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In eaawathat over(NAAugadvisale rece
As thavecredequimainreturrepo
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On termconssuppby th
ort for HMP Consptember 2009
dry hire negh the proposengements. M
orge) for the mween the Rec
process the viders for the
ing this perioAB and St GeDOCA propo
arly August arding the ma
they were cor the two yea
AB and St Gegust the negoised us that aprocess. In
eived offers s
the manageme considered ditors to consipment ownentenance facrned to HMP
ort no DOCA
d such a propP by leavinge may be equ
ditors with fixised. Those
mprise the Waured creditorsipment becomoffers is Frid
cussions and Administratothe source oction from thrge surplus, ormation fromcated to us th
12 June 2009ms of a DOCAsensus. As suport future trhe Administr
structions Pty Ltd
gotiations weed customer, Management management
ceivers (NABReceivers (Ne managemen
od we attendeorge) to discosal.
the Receiveranagement anoncerned thaar period, dueeorge) continotiations collaall of the HMaddition, GE
satisfactory t
ment and maiother alterna
sider. An alteed by Westpacility at WacoP for its own A proposal ha
posal been recg their five iteuity in these xed and floatsame secureacol facility. s have statedming availab
day 11 Septem
correspondeors regardingof any funds fhe Directors ordinarily avm these securhat they expe
9 the DirectoA. Howeveruch and couprading, we forators and pu
ere being conas they had of HMP sub
t and maintenB and St GeoNAB and St Gnt and maint
ded numerouscuss the prop
rs (NAB andnd maintenanat HMP may e to its finan
nued to negotapsed. Since
MP equipmenE has begun o them.
ntenance conatives whichernative propac (5 items ool and the pouse due to o
as been recei
ceived it wouems of heavyitems after tting charges
ed creditors a With regard
d that they arble for use bymber 2009.
ence have alsg the need fofor a dividenor 3rd party,
vailable to thered creditorsect to suffer
ors submittedr, the Receivpled with conormed a viewut to creditor
nducted by thcontrol of th
bmitted a pronance of the
orge) and theGeorge) alsoenance contr
s meetings wposed dry hir
d St George) nce contract not be able tcial positiontiate with thee then the Rent under theirto accept off
ntract was noh could be incposal was expof heavy equiossiblity of eqoffers being uived of this n
uld have requy equipment the Westpac may have an
also have an d to the equipre unable to cy HMP until
so occurred br working ca
nd to unsecurthe only soue secured cre regarding tha shortfall af
d a proposal ters and Direncerns we ha
w that there wrs for their co
he Receivers he equipmentoposal to the
dry hire equ customer be
o sought propract.
with both the re contract an
advised HMto HMP. Thto meet the o
n. We are adve dry hire cuseceivers (NAr control has fers to sell eq
o longer avaicorporated inplored that wipment)and lquipment in unacceptablenature.
uired Westpafor use by Hdebt is repain economic ieconomic intpment in thecomment on the process i
between the apital to suppred creditors.urce of these editors. Whiheir financialfter realising
to the Receivctors could n
ad about the lwas no DOCAonsideration.
(NAB and St that would Receivers (N
uipment. Negecame protraposals from o
Directors annd ultimately
P that they whe main reasoobligations ovised that thestomer, how
AB and St Gebeen include
quipment as
ilable to the nto a DOCA would involvleased to HMthe tender pr
e. At the tim
ac to continuHMP. It is exd in full, so tinterest in anterest in the
e tender procthe possibiliis completed
Receivers, thport any DOC. In the absefunds wouldile we have ll position, it
g their fixed c
vers indicatinnot subsequelack of workA proposal to.
St George) dibe subject toNAB and St gotiations
acted. Duringother service
nd the Receivy the strategy
would not be on provided f the contrace Receivers ever during
eorge) have ed in a tendeand when th
directors, theproposal fore the use of t
MP, the rocess being
me of issuing
ue to supportxpected that those secured
ny surplus thaassets that ess, the varioity of the d. The deadl
he Directors CA proposalence of a capd be the floatlimited has been
charge assets
ng the likely ently reach king capital to be consider
Page 7
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2 Adminragh
noted in our ry with an effeks pursuant tportive of a Dipment finansibility of a nmine allow.
ce the collapsgations undeected. Had tame unlikelyment of outst
ditors who wntioned Wesffailures. Fo
mination. Sinrations in acc
ur estimate fumed that thewed several
mobilisation o
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ult in overall
nsequently, thshould not imtract to 19 N
onyella and N
advised to crwich Park ceeivers, retain
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ails of tasks c
structions Pty Ltd
nistrators
report to crefective finish to the CurragDOCA proponce debt to benew contract
se of the inteer the contracthe Administy, Wesfarmertanding rece
were present afarmers had sllowing our n
nce then we hcordance wit
for the futuree works at Cuweeks for a
of the equipm
d in that estimhe Curragh corevenue for
he recommenmpact upon tovember 200
Norwich Par
reditors in oueased prior toned the originer equipmendical mainte
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completed to
s’ trading
ditors dated date on 19 N
gh contract, aosal. The coe reduced thrbeing award
ended dry hirct and allow trators deciders may have ivables as a
at the creditosought to ternegotiations have regularlth the contrac
e trading perfurragh will creduced wor
ment.
mate, it is noontract will iHMP over th
ndation madethe ability of09.
rk
ur report dateo that date. Snal equipmen
nt items whileenance inspec
s been reduceerations at thment to impr
o date are inc
g
7 July 2009 November 20as it was conntinuation ofrough monthded should ci
re arrangemethe receivabed to cease trpursued a daset off again
ors meeting irminate the c
with them thly liaised witct.
formance, decontinue untirkforce to cle
ot anticipatedincrease the ihe period Au
e at paragrapf HMP to me
ed 7 July 200Since then wnt manufactue they are noctions and m
ed in line wihe Curragh sirove the reali
cluded in An
the Curragh 009. HMP hnsidered Currf the works a
hly paymentsircumstances
ent, HMP hasbles due to it rading whenamages claimnst the damag
in July 2009 ontract with hey subsequeth Wesfarme
etailed later iil 19 Novembean up the sit
d that the conindebtedness
ugust to Dece
ph 6(ii) of thieet its obligat
09, the contrawe have, in courers to provot in use. W
maintenance w
th reduced aite. In additiisable value.
nnexure B, St
contract washas continuedragh may havat Curragh ha and maintais within the i
s continued tby Wesfarm
n the prospectm against HMges claim.
may recall thimmediate eently withdreers to monito
in this reportber 2009. Wte and assist
ntinuation of s of HMP buember.
is report thattions under th
acts at Goonyonjunction w
vide maintenaWe have also r
work as nece
activity of theion the Waco
tatement of R
s terminated d to undertakve been as allowed thined the industry and
to perform itmers to be
t of a DOCAMP and withh
hat we effect for druew the notice
or HMP
t, we have We have also
with the
trade by HMut rather will
t HMP be wohe Curragh
yella and with the ance supportretained staff
essary.
e HMP ol facility has
Remuneratio
Page 8
in ke
he
at
ts
A held
ug e of
MP to
ound
t for ff to
s
n.
8
Repo9 Sep
4
4.1The from31 M31 Dincoorde
Pleaand such
Pos
Act
Rev
ExpWaOthRepEmpVehRenPurOthCom
Tot
Ope
Les
Pre
Forinte
ort for HMP Consptember 2009
Adminpayme
Admintable below
m 31 March 2March 2009 tDecember 20orporates wagerly exit.
ase note the eat a later poi
h costs and p
st appointment
tual trading 1
venue
pensesages (and on-cher staff amenipairs & mainteployee transpohicle expensesntrchase control her mmitted costs
al expenses
erating net in
s principal an
e-tax trading 1
recast August erest payment
structions Pty Ltd
istratorents
nistratorsprovides det
2009 to 31 Dto 31 July 20
009 which inges for staff
expenses/purint may be ca
purchase orde
t trading perfo
April 2009 to
costs)ity costsenanceort costs
l account (pre
as per unproc
come pre-fina
d interest pay
1 April 2009 t
t to December ts
rs tradin
s’ post aptails of the a
December 200009 and foreccorporates cowho will be
rchase ordersapitalised buers may be o
formance
o 31 July 200
allocation to c
cessed Purcha
ancing costs
yments to secu
to 31 July 200
pre-tax perfo
ng perfo
ppointmctual and for09. This comcast financiaompletion ofrequired to c
s may also inut this adjustmverstated for
9
cost codes)
ase Order regis
ured creditors
09
rmance after
ormanc
ent tradirecast financ
mprises actual performancf HMP’s obliclean up the
nclude costs tment has notr the above re
ster
principal and
e, recei
ing perfoial performa
al performancce from 1 Auigations at Csite and assi
that are of a t yet been proeporting peri
d
ipts and
ormance ance of HMPce for the peugust 2009 toCurragh. It alst with an
capital naturocessed. As iod.
$'00
25,53
10,889
1,37151
651,44
741,97
17,35
8,18
(5,177
3,00
683,69
Page 9
d
P riod o lso
re
0
5
869079591951484673
2
3
7)
5
72
9
Repo9 Sep
4.2
The for t
5 Sectbegifinan
The propplacinto the p“instimethe rtimecate
•
•
•
•
Pos
Act
Tota
Tota
Bal
ort for HMP Consptember 2009
2 Admin
table below the period 31
Admintion 438(A)(ins the Admincial circum
purpose of tperty or otherce HMP in liq
a DOCA. Wpowers that aolvent transa
e they occurrreturn to crede the transactgorised as fo
insolvent tra
unfair prefer
unfair loans
uncommerci
t appointment
tual trading 1
al ReceiptsDebtors - CuDebtors - GoDebtors - NoDebtors - DaProceeds fromOther sundry
al PaymentsWages includPrincipal andTaxes (PAYGEmployee enRepairs and mAccomodatioOther tradingAdministratoTransport coLegal feesOther sundry
ance as at 31
structions Pty Ltd
nistrators
provides a s1 March 2009
istratora) of the Actinistrator mu
mstances.
the investigar benefits coquidation) w
We seek to idare conferredactions”. Thred. Setting ditors overaltion occurredollows:
ading
rence payme
ial transactio
t receipts and
April 2009 to
rraghonyella
orwich Parkawsonm the sale of ay receipts
ding payroll tad interest and pG, GST)titlementsmaintenanceon /Rent for stg costsors remuneratioosts for staff
y payments
July 2009
s’ receipt
summary of a9 to 31 July
rs’ invest provides thust investigat
ation is to detuld be recov
which would rdentify recovd on him or hhey can only aside these trll, but the liqud or if the tra
ents
ons
payments
o 31 July 2009
assets
ax, superannuaproceeds from
taff
on
ts and pa
all receipts a2009.
stigatioat as soon aste the compan
termine whetverable by a lresult in a gr
veries that miher by the Acbe set aside ransactions cuidator need
ansaction ma
9
ation and longm asset sales pa
ayments
and payments
ns s practicable ny’s busines
ther there areliquidator (shreater dividenight be pursuct. These traor recoveredcan provide a
ds to prove thade HMP inso
g service leaveaid to Secured
s
s made by th
after an admss, property, a
e transactionhould creditond to creditoued by a liquansactions ard if HMP waadditional fu
hat HMP wasolvent. Thes
e)d Creditors
he Administra
ministration affairs and
ns where monors resolve tors than enter
uidator exercire known as s insolvent a
unds and incrs insolvent atse can be
$
11
36
1
26
10
Page 10
ators
ney, o ring ising
at the rease t the
$'000
5,3980,3828,844
7241,375
16,723
0,2475,6222,8292,0401,8651,626
99467426310444
6,306
0,417
0
Repo9 Sep
• An ethat prepthe aare nfor e
The2009opintran
6 As mmus
The to thbetwavaiReo
7 We the lthe athe hof thdivi
Both
ort for HMP Consptember 2009
transactions
explanation oa liquidator
pared by the amount of genot familiar wexplanations
e outcomes o9 and we hanions. Basednsactions wh
Adminmentioned east provide a s
i. whether
As no pcreditor
ii. whether
We recopay its d
iii. whethercontrol o
It is cleawhen thends an
Administrathe date of thiween issuing ilable on our rganisation/B
Estimahave preparelikely outcomauctioneer anheavy equipmhe secured crdend.
h scenarios h
• Closure • Sale of t• No valu• Costs in
and Liqu
structions Pty Ltd
with the pur
of the possibcould pursueInsolvency Peneric informwith the natu.
of our investave not identd on our prehich could b
istratorarlier in this statement set
r it would be
roposal for rs.
r it would be
ommend thadebts as and
r it would be of the compa
ar that HMPhey fall due. nd control be
tors reserve tis report. Shothis report awebsite at w
Businesses u
ated staed an estimatmes in a liqund valuer thament. In thisreditors. Con
have the follo
of HMP the HMP asse being reali
nvolved in unuidators’ fee
rpose of defe
ble offences be is attached Practitioners mation includure of offenc
tigations wetified any fu
eliminary invbe recovered
rs’ recomreport, pursu
tting out his o
in the credit
a DOCA ha
in the intere
at HMP be wd when they
in the creditany to be retu
P is presentl According
e returned t
the right to could we receand the date owww.deloitteunder Admin
atement ted statemenidation for tw
at he consides scenario thnsequently un
owing assum
sets by the liqised for the bndertaking ths
eating credito
by Directors at AppendixAssociation
ded as part ofces and liquid
re included urther evidevestigations
d by a liquid
mmenduant to sectioopinion abou
tors’ interest
as been recei
sts of credito
wound up asfall due.
tors’ best inteurned to the
ly insolvent gly we cannoo the directo
hange their rive any new of the creditoe.com.au undnistration.
of posint of positionwo scenariosers the low scere would bensecured cre
mptions:
quidator business or brhe sale of HM
ors
and insolvenx C. This infof Australia
f the body ofdator actions
in the repornce that wou there are nator.
dationson 439A(4) out each of the
for the comp
ived, this op
ors for HMP
s it is presen
erest for the directors
and unable ot recommenors.
recommendainformation
ors meeting, der Services/C
ition n for HMP ass being high cenario to bee insufficientditors are no
rand name MP assets inc
nt and voidabformation sha and is intenf this report. should refer
rt to creditould lead us t
no insolvent
of the Act, ane following o
pany to exec
ption is not a
to be wound
ntly insolven
administratio
to pay its dnd that the A
ation to credin relevant to c
a summary bCorporate
s at 31 July 2and low. W
e more realistt assets to dis
ot expected to
cluding the A
ble transactioheet has beennded to reduc
Creditors wr to the appen
ors dated 7 Jto change thor voidable
n Administraoptions:
ute a DOCA
available to
d up
nt and unab
on to end and
debts as and Administrat
itors subsequcreditors be made
2009 setting oe are advisedtic in respectscharge the do receive a
Administrator
Page 1
ons n ce
who ndix
July hose
ator
A
le to
d
tion
uent
out d by t to debts
rs’
1
Repo9 Sep
The plusinfo2009for a
Estim
AsseGLLS
SLLS
NLLS
WLLS
SLLS
Non-SRO
LSurp
AsseCTSIAA
Total
LessALLE
Asse
Surp
LessSTSO
Total
Estim
ort for HMP Consptember 2009
above Estims the forecastrmation has 9 fixed chargany additiona
mated Statement of
ets Subject to FixedGE - Plant & EquipLess: agent feesLess: finance liabiliSurplus - Finance
St George - Plant &Less: agent feesLess: finance liabiliSurplus - Finance
NAB - Plant & EquLess: agent feesLess: finance liabiliSurplus - Finance
Westpac - Plant & Less: agent feesLess: finance liabiliSurplus - Finance
Suncorp - Plant & ELess: agent feesLess: finance liabiliSurplus - Finance
-specifically chargSurplus from P&E aRevaluation of fixeOther owned P&E,
Less: fixed and floaplus/(shortfall) Fix
ets Subject to FloatCash at BankTrade DebtorsStockIntangiblesAdministrators tradAdministrators forel Assets Subject to
: Priority CreditorAdministrators feeLiquidators feesLegal feesEmployee entitlemeets Available to Fix
Less: P&E fixeplus/(Shortfall) as
: Unsecured CreditShortfall to chargehTrade Creditors (atStatutory CreditorsOther creditors andl Unsecured Credi
mated Surplus/(De
structions Pty Ltd
mated Statemt trading perfbeen provide
ge debt posital informatio
f Position
d Chargement
ity - GEP&E Fixed Charg
& Equipment
ity - St GeorgeP&E Fixed Charg
uipment
ity - NABP&E Fixed Charg
Equipment
ity - WestpacP&E Fixed Charg
Equipment
ity - SuncorpP&E Fixed Charg
ed fixed assetsaboved assets fixtures and fitting
ating charge creditoxed Chargeholders
ting Charge
ding liabilities outsecast trading perfoo Floating Charge
rss
entsxed & Floating Cha
ed charge creditorsregards Fixed & F
torsholderst appointment)s - Taxation (at appd accrualstors
ficiency)
ment of Positiformance fored from the ftion, being thon provided b
eholders - GE
eholders - St Geor
eholders - NAB
eholders - Westpa
eholders - Suncor
gs
ors
standing as at 31 Juormance
argeholders
Floating Chargeho
pointment)
ion is based or August to Dfixed charge
he date the Aby the fixed
No
rge
ac
p
uly 2009
lders
on the balancDecember 20
holders, we Administrator
charge holde
BV
otes $
1 511 (62
(4,
1 211 (42
(13,
1 311 (39
(9,
(45
1
11 12 3
51 (27
30
1345
(2
19
6666 (2
46
146
17 (98 (47
(14,
32
ce sheet as at009. As only
have adopters were appoiers.
Book Value
EH
'000 $
58,121 60 (
2,355) (62,234)
28,174 30
2,062) (42,888) (9
30,013 30
9,054) (39,041)
9,8990
4,887) (45,013
1320
(174)(42)
5,0135,437
37,23857,6877,163) (30,524
0,417 15,2245,071
7002,823) (2
6879,275 15
000
2,951) (6,848 9
0 (76,848 2
(42)9,745) (124,227) (4(183),198) (16
2,650 (13
t 31 July 200y limited ed the 31 Mainted, update
ERV High
$'000
63,3851,268)2,355) ((237) (1
32,850(657)
2,062) (9,869) (1
39,800(796)
9,054) ((50) (1
6,881(69)
4,887)1,925
65(1)
(174)(110)
1,9250
1,0863,011
3,011)0
10,4174,7222,506
02,823)
6875,508
(180)(70)(25)
5,455)9,779
7,145)2,634
(110) (2,016) (4,227)
06,354) (5
3,720) (5
Page 12
09
arch ed
ERV Low
$'000
44,370(887)
(62,355)18,873)
22,995(460)
(42,062)19,527)
27,860(557)
(39,054)11,751)
5,554(56)
(4,887)612
46(1)
(174)(130)
6120
7101,322
(1,322)0
10,4172,9762,122
0(2,823)
68713,378
(212)(92)(25)
(5,455)7,595
(7,595)0
(41,363)(12,016)(4,227)
057,606)
57,606)
2
Repo9 Sep
7.1Theor reestimcalcthe rinclu
7.2The fromfor ainclu
The in 7
7.3
The valuin a
Revplanfor tequi
1. A
AssNet
LesLes
LesLes
SunAss
Re-a
ort for HMP Consptember 2009
High ose values havealisation abmates of the ulations. Acrealisation pruding the int
2 Low ouvalues inclu
m the specifica reduced retuded.
realisations .1.
3 Notes
low outcomue. It is the A
liquidation s
valuation of thnt and equipmthis asset as iipment.
Assets subject
sets subject tot book value/va
s: agent feess: finance liab
s: realisation fs: funds availa
ncorp shortfallsets subject to
assessmnet of
structions Pty Ltd
outcome ve been incluove that of avalue of an a
chieving thesrocess. Thisterest in each
utcome uded in this cc assets of Hturn or where
will be subje
to the Es
me represents Administratoscenario the
he plant and ment from mits value is a
t to fixed charg
o fixed charge aluation
ility
from other fixeable from float
lo floating char
f asset lives - i
uded on the ba low outcomasset, the higse values is ss includes varh asset and th
calculation arHMP. These
e two values
ect to costs a
stimated
70% of the hors’ assessmelow outcome
equipment omajor overhau
lready in the
ge
with GE/NAB/
d charge assetting charge ass
ge
impact on net b
basis that theme position fogher value hasubject to a nrious markethe general ec
re consideredamounts havwere provid
and also fluct
d Stateme
high outcoment, in consule is the most
occurred dueuls undertakee estimated o
/St George
tssets
book value
ere is potentior specific asas been inclunumber of fact forces affecconomic statu
d the lower pve been calcuded for an ass
tuations in v
ent of Po
me, which is bltation with tlikely outco
e to the extenen. No realisof the fixed ch
Book Value$'000
116,308
0(143,470)
(27,163)
27,1630
(0)(42)(42)
15,437
ial for an incrssets. Whereuded in the hictors that wocting the valuus at the time
possible valuulated by eithset, the lowe
arious other
osition
based on a gothe independ
ome to be ach
nsion of the usable value hharge assets,
ERVHig
$'00
136,03
(2,721(143,470
(10,156
3,017,14
(0(110(110
reased recove there are twigh outcome ould arise durue of each ase of sale.
ues recoverabher discountier value was
factors outli
oing concerndent valuer, thhieved.
useful lives ohas been asse, being the he
V h0 $
5 95
1) (10) (143
6) (50
11450) (410)0) (41
0
Page 13
very wo
ring sset,
ble ing
ined
n hat
of essed eavy
ERV Low
$'000
5,225
1,904)3,470)
,150)
1,3227,595
1,234)(130),363)
0
3
Repo9 Sep
HMIt hacatefittin
Capeconbeenof as
The reco
HighIt is likel
It ha
The settl We dispthat,
2. O
CapSiteSiteMoComWoFixtSurv
3. T
WeBMBMBMAngBMAng
ort for HMP Consptember 2009
P’s accountsas not been pgories. Conngs.
ital spares conomic life ofn assessed fossets subject
Administratovered.
h and low esthe Adminis
ly outcome t
as not been p
full recoverlement of dis
have contactputes that ma, in the low o
Other owned P
pital sparese buildingse establishmenbile equipmen
mputer equipmorkshop equipmures and fittinvey equipmen
Trade debtors
sfarmers (CurrMA Coal demobMA Coal demobMA Coal (Norw
glo Coal (GermMA Coal (Goon
glo Coal (Daw
structions Pty Ltd
s separately dpossible to sesequently, w
onsist primarf the plant anor these sparet to fixed cha
tors have asc
stimated realistrators’ asseto be achieve
possible to se
ability of debsputes.
ted all of theay have causeoutcome scen
P&E, fixtures a
nt costsntmentment
ngsnt
ragh)bilisation (Goobilisation (Nor
wich Park)man Creek)nyella)wson)
disclose balaeparately iden
we have attrib
rily of majornd equipmentes as their vaarge.
cribed no valu
isable valuesessment that ed.
eparately iden
btors will be
e debtors of Hed a delay in nario, the col
and fittings
onyella)rwich Park)
ances for othentify the assebuted the agg
r overhauls tot operated by
alue will be r
ue to site est
s were assessin a liquidati
ntify owned
dependent u
HMP to obtapayment. A
llection of ap
er owned P&ets that makegregated real
o equipment y the businesreflected in th
tablishment c
sed by an indion scenario
assets.
upon a numb
in payment aAs a result ofpproximately
Book Value$'000
28,2274,8391,952
83565751214472
37,238
Book Value$'000
2,4251,250
49626049129111
5,224
&E and fixture up these twisable value
to extend thss. No realisahe estimated
costs as these
dependent vathe low outc
ber of factors
and to undersf our findingsy $2,248k ma
ERVHig
$'00
64
16131021
1,08
ERVHig
$'00
2,421,25
4926
29
4,72
res and fittinwo asset
to fixtures a
e useful able value harealisable va
e costs canno
aluer (Hassalcome is the m
including th
stand any s we estimateay be in doub
V h0 $
0420
67310229146
V h0 $
255096600
9102 2
Page 14
ngs.
and
as alue
ot be
ls). most
he
e bt.
ERV Low
$'000
0488
0836651147
710
ERV Low
$'000
2,42500
2600
2910
2,976
4
Repo9 Sep
The
• aa
• aCu
• thG
We resoin a
An uabov
The whic
Thirexclthird
The syst
4. S
Tyr
5. In
Inte
ort for HMP Consptember 2009
reasons are
a dispute regaamount was $
a dispute regaCreek mine aultimately did
he potential Goonyella ($
are continuinolving proble
low outcom
updated stocve realisable
value of stoch is not own
rd party stocklude this third party may m
Directors ofems of HMP
Stock
res and spare p
ntangibles
ellectual prope
structions Pty Ltd
a combinatio
arding price $11k which i
arding $491kand the recovd not proceed
non-paymen$1,250k) and
ng to work thems and obtae scenario w
k take has bevalues on bo
ck excludes ned by HMP
k is also stord party stockmake a claim
f HMP and thP have a reali
parts
erty and system
on of:
escalation clis unlikely to
k relating to very of costs d
nt of de-mobid Norwich Pa
hrough the dining payme
will be approx
een performeoth a fair ma
stock held atP until payme
red at HMP’sk from the stom against sto
he Administrisable value.
ms
lauses at the o be recovere
the existenceassociated w
ilisation costark ($496k) m
disputes and hent. Howeveximately $2,9
ed by the indarket value an
t HMP’s preent has been
s Wacol facilock take prock included
rators do not
Anglo Coal ed.
e of an actuawith preparat
ts claimed bymines.
have had somer, at this stag976k.
dependent vand an auction
mises under made to GE
lity. Whilst cedures perfin the above
t consider the
Book Value$'000
5,071
Book Value$'000
700
Dawson min
al contract at tion for minin
y HMP at the
me success toge I estimate
aluer, who han basis.
a GE Bailm.
every effort formed, a risk
table.
e intellectual
ERVHig
$'00
2,50
ERVHig
$'00
ne. The disp
the German ng works wh
e BMA
o date in that recover
as estimated t
ent Facility
was made tok exists that
l property an
V h0 $
06
V h0 $
0
Page 15
puted
hich
ries
the
o a
nd
ERV Low
$'000
2,122
ERV Low
$'000
0
5
Repo9 Sep
The Adm
The Admtrad
6. P
AdmLiquLeg
EmpAnnPaidPaySevLonSupRetePAY
Tota
7. T
TraCur0-30Grea
OthProvOth
ort for HMP Consptember 2009
above trade ministrator w
estimated vaministrators. e creditor ha
Priority credit
ministrators feuidators fees
gal costs
ployee entitlemnual Leaved personal leavy in lieu of notiverance & retreng Service Leaperannuationention bonusYG
al priority cre
Trade creditor
ade creditorsrrent0 daysater than 30 da
her creditors avisions
her accruals
structions Pty Ltd
creditors, otwas appointed
alue for trade Where no p
as been adopt
tors
ees
ments
veiceenchmentve
editors
s, other credit
ays
and accruals
thers creditord.
e creditors taproof of debt ted.
tors and accru
rs and accrua
akes into acchas been rec
uals
als are as at 3
ount proofs ceived the bo
Book Value$'000
0000
640998
00
8318
681531
2,951
2,951
Book Value$'000
6,493 Re3,259 Re
(7) Re9,745
10083
183
31 March 20
of debt receiook value of
ERVHig
$'00
1872
27
649959
1,9081
6853
5,45
5,73
ERVHig
$'00
efer note belowefer note belowefer note below
12,01
009, the date
ived by the the individu
V h0 $
8070255
40989706831881315 5
0 5
V h0 $
w Refer note bw Refer note bw Refer note b6 12
000
Page 16
the
al
ERV Low
$'000
2129225
328
640998597
1,9068318
681531
5,455
5,783
ERV Low
$'000
belowbelowbelow2,016
000
6
Repo9 Sep
7.4The unsecred
In covaluoutclikel
7.5ShouAdmPurscom
As
•
•
•
•
•
8. S
GSTIncoDefPAYPay
ort for HMP Consptember 2009
4 Overalhigh outcom
ecured creditditors.
onclusion, it uer, that in thcome scenarily outcome t
5 Liquiduld the credi
ministrators, suant to Sect
mmenced as a
Liquidators
Realise the a
Continue to
Instigate legto investigat
Adjudicate c
Distribute av
Statutory credi
Tome taxferred taxYG
yroll tax and fri
structions Pty Ltd
ll realisatme scenario ptors whereas
t is the Admihe current ecoio will not beto be achieve
ators’ roitors resolve may become
tion 513C of at the date of
of HMP our
assets of HM
investigate t
gal action to ption findings
creditor claim
vailable fund
itors - Tax
inge benefits t
tions in produces a rethe low outc
nistrators’ asonomic clime achieved aned, which wil
ole and dat the second
e liquidators f the Act, the f our appointm
primary dut
MP not subjec
the affairs of
pursue voida
ms if a divide
ds to creditor
ax
liquidatioeturn of apprcome scenari
ssessment, inate the goingnd therefore ll not produc
uties d meeting ofof HMP purwinding up ment as Adm
ties would be
ct to the char
f HMP and it
able transacti
end will be p
rs in accordan
on scenaroximately 16io does not p
n consultatiog concern vathe low outc
ce a return fo
f creditors thrsuant to Secof HMP will
ministrators, b
e to:
rges held by
ts directors
ions or partie
paid
nce with the
Book Value$'000
1,3601,227
971445225
4,227
arios 6 cents in theproduce a retu
n with their lues which s
come scenarior unsecured
at HMP be wtion 446A ofl be deemed being 31 Ma
GE, St. Geor
es guilty of o
priorities se
ERVHig
$'00
1,361,22
974422
4,22
e dollar for urn to unsecu
independentsupport the ho is the mostcreditors.
wound up, wf the Act. to have
arch 2009.
rge and NAB
offences, subj
et out in the A
V h0 $
60277145257 4
Page 17
ured
t igh t
e, as
B
ject
Act.
ERV Low
$'000
1,3601,227
971445225
4,227
7
Repo9 Sep
8
8.1The Com
Per
31
1 M
8.2The follo
Per
1 J
1 S
17
The Appmee
At threlat1 Sereso31Dfor tbe p
The
i.
ii.
iii.
ort for HMP Consptember 2009
Volunta
Approvfees of the A
mmittee are a
riod of time
March 2009
May 2009 – 3
2 Approvcosts of the
ows:
riod of time
July 2009 – 3
September 20
September 2
Administratpendix B to theting of credi
he adjournedtion to the uneptember 200olution will bDecember 200the Curragh cpaid.
resolutions t
That thethe Corpamount
That the449E of be fixedCreditor
That theof the Cfixed anCreditor
structions Pty Ltd
ary Adm
val to daAdministratoas follows:
e
9 – 30 April 2
30 June 2009
val requiAdministrat
e
31 August 20
009 – 16 Sep
2009 – 31 De
tors’ remunehis report. Citors.
d second meenpaid fees fro09 to 16 Septbe proposed f09. The estimcontract. If a
to be sought
e Administratporations Acof $171,915
e Administratf the Corporad and capped rs
e Liquidatorsorporations A
nd capped to rs
ministra
ate ors to 30 June
2009
9
ired for ttion for the p
009
ptember 2009
ecember 200
ration is basreditor appro
eting of credom 1 July 20tember, beinfor Liquidatomate for Liq
a lesser amou
at the meeti
tors’ remunet for the peri (plus GST)
tors’ future ations Act for
to an amoun
s’ future remAct for the pan amount o
ator's’ F
e 2009, as ap
the perioperiod 1 July
9
09
ed on Deloitoval for fees
ditors, the Ad009 to 31 Aung the date ofors’ fees for tquidators’ feeunt is incurre
ng of credito
eration pursuiod 1 July 20as outlined i
remunerationr the period nt of $39,653
muneration puperiod 17 Sepof $91,780 (p
Fees
pproved by th
Amount (
$248,812
$342,864
od post 1209 to 16 Se
Amount (
$171,915
$39,653
$91,780
tte’s hourly rwill be soug
dministratorsugust 2009 anf the creditorthe period 17es is based oned only the am
ors are:
uant to the pr009 to 31 Auin the Report
n pursuant to1 September3 (plus GST)
ursuant to theptember 2009plus GST) as
he creditors a
(excl GST)
July 20eptember 200
(excl GST)
rates which aght at the adj
will proposend estimatedrs meeting. A7 September n completionmount actual
ovisions of Sgust 2009 bet to Creditors
o the provisior 2009 to 16 S) as outlined
e provisions 9 to 31Decemoutlined in t
and/or the
09 09 are as
are included iourned secon
e a resolutiond future fees fA further 2009 to
n of the worklly incurred w
Section 449Ee fixed in thes; and
ons of SectioSeptember 2in the Repor
of Section 4mber 2009 bthe Report to
Page 18
in nd
n in from
ks will
E of e
on 2009 rt to
473 be o
8
Repo9 Sep
The than
Pleato dr
Attainfo
If yo You JohAdm
ort for HMP Consptember 2009
Administratn this amount
ase note that raw as and w
ached as Apprmation in re
ou have any
urs faithfully
n L Greig &ministrators
structions Pty Ltd
tors’ fees wilt without fur
none of theswhen incurred
pendix D is aelation to app
queries pleas
& Nicholas Hs
ll be capped rther approva
se fees includd.
a copy of IPAproving remu
se contact Lo
Harwood
and accordinal by creditor
de disbursem
A creditor infuneration in
orraine Smith
ngly we will rs.
ments, which
formation shexternal adm
h on 07 3308
be unable to
Administrato
heet which prministrations
8 7222.
o draw fees m
ors are entitl
rovides furth.
Page 19
more
led
her
9
Repo9 Sep
ApReHMACN
Inde
We,the rAdmpotefrom
We risks
Rele
Our that ConactinmemHM
Na
NaTru
GELtdAuLtd
St. Ltd
St. Ho
Ther
ort for HMP Consptember 2009
ppendixelations
MP ConstrucN: 10989601
ependence
Nicholas Harisks to our iministrators oential risks tom accepting t
have continus to our cont
evant Relati
firm does haare entitled
nstructions Ptng as Voluntmber of our fP Constructi
ame
ational Austraustees Ltd
E Commerciad National ustralia Trustd
George Finad
George Secuoldings Pty L
re are no oth
structions Pty Ltd
x A – Deships anctions Pty Lt13
arwood and independenceof HMP Cono our indepenthis appointm
ued to monittinuing with t
ionships
ave professioto enforce a ty Ltd’s proptary Adminisfirm, has, proions Pty Ltd.
Natu
alia FromengaNatiowhicTrus
al Pty
tees
FromengaCom
ance FromengaGeorGeorparty
urity Ltd
FromengaGeorGeora rel
her prior prof
eclarationd Indemtd
John Lethbrie prior to acc
nstructions Ptndence. We ment.
or our indepthis appointm
onal relationscharge on th
perty. These strators of HMovided any ad.
ure of relatio
m time to timagements on onal Australch National Astees Ltd is a
m time to timagements on
mmercial Pty
m time to timagements on rge Bank Ltdrge Finance Ly.
m time to timagements on rge Bank Ltdrge Security ated party.
fessional or p
on of Indmnities
idge Greig hcepting the aty Ltd. This are not awar
endence andment.
ships with thhe whole or sprofessionalMP Construcdvice to the
onship
me we accept behalf of ia Bank Ltd Australia related party
me we accept behalf of GELtd.
me we accept behalf of St.
d of which StLtd is a relat
me we accept behalf of St.
d of which StHoldings Lt
personal rela
depend
have undertakappointment a
assessment ire of any rea
d confirm the
he following substantially relationshipctions Pty Ltfollowing en
ReasoConfl
of
y.
It is a
E It is a
. t. ted
It is a
. t. td is
It is a
ationships tha
dence, R
ken a proper as Voluntaryidentified nosons that wo
ere are no rea
entities, beinwhole of HM
ps do not prectd and neithentities with re
ons why notlict
a commercial
a commercial
a commercial
a commercial
at should be
Relevan
assessment oy o real or ould prevent u
al or potentia
ng entities MP clude us from
er we, nor a espect to
t an Impedim
l relationship
l relationship
l relationship
l relationship
disclosed.
Page 20
t
of
us
al
m
ment or
p.
p.
p.
p.
0
Repo9 Sep
Prio
NeitLtd.
Inde
We that Date
John
NOT
ort for HMP Consptember 2009
or Engagem
ther we, nor
emnities
have not beewe may be e
ed: 9 Septem
n Lethbridge
TE: If cithe copyrepl
structions Pty Ltd
ments with th
our Firm, ha
en indemnifientitled to un
mber 2009
e Greig
ircumstancesIPA Code ofy to creditorlacement dec
he Insolvent
ave undertake
ed in relationnder statute.
N
s change, or f Professionas with my ne
claration at th
en any prior
n to this adm
Nicholas Har
new informaal Practice toext communihe next meet
engagement
ministration, o
rwood
ation is idento update this ication as weting of the co
ts for HMP C
other than an
tified, we areDeclaration
ell as table a ompany’s cre
Construction
ny indemnitie
e required unand provide copy of any
editors.
Page 2
s Pty
es
nder a
1
Report9 Sept
Ap
Delo
The rashowiadminnot be
Class
CRG
CRG
CRG
CRG
CRG
CRG
CRG
CRG
CRG
CRG
CRG
CRG
CRG
CRG
CRG
t for HMP Constrtember 2009
pendix
oitte Hour
ates for our reing the qualifinistration. Thee compared to
sification
Partner 1
Sr Manager 1
Sr Manager 2
Manager 1
Manager 2
Sr Analyst 1
Sr Analyst 2
Sr Analyst 3
Analyst 1
Analyst 2
Analyst 3
Graduate
Support A
Support B
Vacationer
ructions Pty Ltd
B - Stat
rly Rates
emuneration cications and exe hourly rates o an hourly wa
HourlRate(exc
GST) 520.00
1 375.00
2 340.00 260.00 220.00 200.00 185.00 160.00 155.00 145.00 135.00 130.00 130.00 115.00 130.00
tement
alculation arexperience of scharged enco
age. All rates
ly e
)
HourlyRate (inc
GST)
572.00
412.50
374.00
286.00
242.00
220.00
203.50
176.00
170.50
159.50
148.50
143.00
143.00
126.50
143.00
of remu
set out in thestaff engaged mpass the totaare show exc
y
DescriptioRegisteredspecialist Typically experiencemanager lresponsiblcontrollingappropriatright.
Typically working oconducting
Typically qualificatiAssists in performin
Typically to 4 years more senio
Generally Works undinvolved i
uneratio
following tabin the adminisal cost of provlusive of GST
on d liquidator orskills to the adCA or CPA qe on insolvencevel. Answerale for all aspecg all aspects otely qualified
CA or CPA qon insolvency g administrati
completed or ions with 4 to planning and g some more
studying towainsolvency exor staff in perf
a person currder supervisioin insolvency
on
ble together wstration and thviding professT.
r bankruptcy tdministration
qualified with cy matters witable to the appcts of an admiof an administrto take appoin
qualified with matters. Will ions and direc
near complet6 years insolvcontrol of smdifficult tasks
ards CA or CPxperience. Woforming day-t
rently undertakon in providinmatters
with a general ghe role they tasional services
trustee. Bringsor insolvencyin excess of 1th a number opointee but othinistration. Caration. May bntments in his
6 to 8 years ehave experien
cting a number
tion of CA or vency experie
maller matters s on larger ma
PA qualificatiorks under supto-day fieldwo
kes a universig assistance o
Page 22
guide ake in the s and should
s his or her y task. 10 years f years at herwise
apable of e
s/her own
experience nce r of staff.
CPA nce. as well as
atters.
ion with 2 pervision of ork.
ity degree. on tasks
Report9 Sept
Adm At thare ba Fees
Appr
Detai
CompPract
AdmiType TaskAsset 30 ho$9,11
Credi 181 h$51,7
t for HMP Constrtember 2009
ministrators
e meeting, wased on our R
incurred 1 Ju
oval to be so
ls of the wor
pany titioner
inistration
k Area ts
urs 1
itors
hours 56
ructions Pty Ltd
s’ Remune
we shall be asRates as show
uly to 31 Augu
ought at the
rk to be perfo
HMP ConstJohn LethbrHarwood Voluntary A
General DPlant and Eq
Debtors
Leasing
Creditor cir
Proof of De
Creditor En
eration
sking that ouwn on the pre
ust 2009:
second mee
ormed by Ad
tructions Pty Lridge Greig an
Administration
Description quipment
culars
ebt
nquires
ur remuneratievious page.
eting of cred
dministrators
Ltd nd Nicholas
n
IncludReview Liaisinparties Liaisin Liaisinplant a Arrang Arrangrequire Corresinsuran Review CorresLiaisin Prepari Prepar Preparacredito CompiProof o
Respon Reviewtheir re
ion as Admin
$ 171,8
itors $ 171,8
s are set out
Period Firm
des w asset listing
ng with valuer
ng with Receiv
ng with Receivand equipment
ge sale of plan
ge for maintened
pondence witnce requireme
wing and mon
pondence witng with owner
ing lease paym
e and issue se
ation of suppors
iling Proof of of Debt registe
nd to creditor
w and prepare epresentatives
nistrators be
835
835
in the summ
1 July 2009Deloitte To
s
rs, auctioneers
vers regarding
vers regardingt
nt and equipme
nance inspectio
h insurer regaents
nitoring debtor
h debtors andrs/lessors
ments for fixe
ection 439A re
plemental seco
Debt documeer
enquiries
correspondens via facsimile
approved. T
mary below
9 – 31 Augustouche Tohmat
s and intereste
g use of equipm
g auctions for
ent at auction
ons and work
arding ongoing
r ledgers
d collection
ed charge asse
eport
ond report to
ents and updat
nce to creditore, email and po
Page 23
Those fees
t 2009 tsu
ed
ment
sale of
as
g
ts
ing
rs and ost
Report9 Sept
Empl 65 ho$10,8
t for HMP Constrtember 2009
loyees
urs 89
ructions Pty Ltd
Secured Cre
Meetings of
Employees
Legal and PAdvice
Employee E
Calculation
Other Empl
editor
f Creditors
Professional
Enquiry
of Entitlemen
loyee Issues
Corresappoin
Preparaadverti Preparacertificcreditomeetin Preparawith A ResponimmedMeetin UpdatiDiscusentitlem Analys Analyslegal aReceiv Reviewand the Preparaentitlem Verifyi Receivemploy Answeentitlem
nts Updati(LSL, Updatidetails ReviewrecordsCorres Corres
pondence andnted by secured
ation of meetiisements for fi
ation of meeticate of postageors, reports to ng and draft m
ation and lodgASIC
nding to stakediately followings with Union
ing employee ssion with lawments
sing employm
sing employeedvice from HW
ve and respond
w and prepare eir representat
ation of letterments
ing super amo
ve and prepareyees objection
ering employements
ing calculationSuper, AL, PI
ing entitlemen
wing employes pondence wit
pondence wit
d meetings witd creditors
ing notices, prfirst meeting
ing file, include, attendance creditors, adv
minutes of mee
gement of min
eholder querieing meeting n representati
information wyers regarding
ment contracts
e entitlements WL Ebsworthd to employee
correspondentives via facsim
s to employee
ounts for empl
e correspondenns to leave ent
ee calls regard
ns for employILN, Redunda
nt calculations
e files and com
h Child Suppo
h Centrelink
th Receiver
roxies and
ding agenda, register, list o
vertisement of eting.
nutes of meeti
s and question
ves
g employee
and awards
position baseh e enquires
nce to employmile, email an
es advising of
loyees
nce in responstitlements
ding employee
yee entitlemenancy)
s for changes i
mpany’s book
ort Agency
Page 24
of f
ings
ns
ed on
yees nd post
their
se to
e
ts
in
ks and
Report9 Sept
Trade 444 h$94,0
t for HMP Constrtember 2009
e On
hours 66
ructions Pty Ltd
Trade on M
Creditor Ac
Processing rpayments
Management
ccounts
receipts and
Reviewtrading Review Discus Liaisin Liaisin Attend Arrang Mainta Liaisinlong setermina Liaisin Paymea week Discusarrange Discusof pre a Setting Proces Makingorders Query necessa Enterinsystem Review Summa Prepara PaymeWestpa Match invoice Reconcservice
w of managemg performance
w of mining co
ssions with BM
ng with suppli
ng with manag
dance on site
ging and autho
aining purchas
ng with superaervice leave reation of emplo
ng with OSR r
ents to creditorkly basis
ssions in relatiements
ssions with creappointment d
g up new supp
sing credit acc
g creditor pay
and discuss cary
ng receipt andm
w of and paym
arise and acco
ation and lodg
ent of finance pac
and reconcilees
cile and pay sue leave levies
ment reports ane
ontracts
MA and Wesf
ers
gement and sta
orising purcha
se order regist
annuation fundegarding controyees employ
regarding payr
rs, contractors
ion to propose
editors relatingdebt and post
plier accounts
count applicat
yments and pro
redit limits wi
d payments int
ment of wages
ount for asset
gement of BA
payments to R
e creditor purc
uperannuation
nd monitoring
farmers
aff
ase orders
ter
ds and Auscoaributions,
yment
roll tax issues
s and employe
ed dry hire
g to the explaappointment d
tions
ocessing purc
ith creditors a
to accounting
to staff
sales
AS
Receivers and
chase orders to
n payments an
Page 25
g of
al for
ees on
nation debt
hase
as
o
nd long
Report9 Sept
Admi 31 ho$6,01
t for HMP Constrtember 2009
inistration
urs 4
ructions Pty Ltd
Bank accou
Budgeting areporting
Appointmen
Document mreview/chec
unt administrat
and financial
nt
maintenance/fcklist
tion Prepariaccoun Reques Bank a CorrestransfeDevelo Discusand ma Reviewstateme Meetinother is Analys Mainta Prepara MeetinpositioDiscuspropos Preparithe me
file Filing File rev
ing corresponnts
sting bank sta
account reconc
pondence witers opment of Fo
ssion with HMaintenance cos
wing companyents
ngs with Receissues
sis on actual c
aining trading
ation of financ
ngs with HMPon ssions with Dised DOCA
ing insurance,edia
of documents
views and upd
ndence openin
atements
ciliations
h bank regard
recast Trading
MP managemests
y’s budget and
ivers to discus
compared to bu
profit and los
cial reports
P management
irectors and R
, checklist and
dating checkli
g and closing
ding specific
g Model
nt on future re
d financial
ss forecasts an
udgeted positi
ss
t to discuss tra
eceivers on
d advertiseme
ists
Page 26
epairs
nd
ion
ading
nt for
Report for 9 Septem
Calcula
Em
Harwood,Hughes, RLeech, MaSmith, LorTaplin, JaLippstreuWong, BeMontemoSommerfeBuscombeSeow, NadBennett, ARutter, MAcharya, Bennett, APrentice, JBird, EsthStanton, LSommerfeShepherd
Total
GSTTotal (inc
Average H
HMP Constructions Ptymber 2009
ation of Remuner
mployee P
, Nicholas AppoRichard CRG Partin CRG Drraine CRG D
ames CRG D, Debbie CRG Mernard CRG Sor, Camila CRG Seld, Amanda CRG Se, Kerryn CRG Adyne CRG AAlexandra CRG Gatthew CRG GAneesh CRG V
Alexandra CRG VJack CRG V
her CRG SLindsay DPR Peld, Amanda DPR S, Phillip DPR G
cluding GST)
Hourly Rate
y Ltd
ration
Position
$ / hou(exclGST)
ointee 5Partner 2 5Director 1 3Director 1 3Director 1 3Manager 1 2Snr Analyst 1 2Snr Analyst 3 1Snr Analyst 3 1Analyst 2 1Analyst 2 1Graduate 1Graduate 1Vacationer 1Vacationer 1Vacationer 1Support A 1Partner 3 4Sr Analyst 1 1Grad 1
ur l ) Total actual hou
520 5 520 0 375 6 375 375 9 270 200 3 160 160 1 145 145 7 130 2 130 7 130 130 130 130 430 160 15 96
75
rs Total$
51 26,728 0.2 108 64 23,813 14 5,213 94 35,288 2 621
30 4,848 13 2,063 19 19,008 8 1,014
79 12,168 20 2,692 72 9,576 8 770 4 507 2 286
14 1,781 0 43
58 25,264 1 48
51 171,835
17,183 189,018
229
Hrs $2 832
- - 6 2,063
- - 13 4,988
- - - -
1 83 - - - - - - - -
8 1,042 1 105
- - - - - - - - - - - -
30 9,111
306
Assets
Page 27
Hrs $23 11,960
- - 28 10,500
- - 41 15,450 2 621
22 3,568 4 627
- - - - 36 5,534
- - 16 2,093
- 0 4 507 1 65
- - - -
5 832 - -
181 51,756
285
Creditors EHrs $
2 884- - - - - - - - - - - -
8 1,2389 1,392
- - 28 4,2632 306
- - - - - -
0 39- - - - 17 2,768
- -
65 10,889
167
Task areaEmployees
Hrs $25 13,052 0.2 108 22 8,25014 5,213 40 14,850
- - 8 1,280
0.7 116 110 17,616
8 1,014 15 2,372
11.4 1,53847 6,2426 523
- - 1.4 182
- - - - 135 21,664 0.5 48
444 94,066
212
Trade on Ad
Hrs $- - - -
8 3,000- - - - - - - - - - - - - - - -
7 8482 2002 143
- - - -
14 1,7810.1 43
- - - -
31 6,014
192
dministration
Repo9 Sep
Disb
Disb
A
B1
B2
Full
Dis
A DB1 B2
Tot
ort for HMP Consptember 2009
bursement
bursements a
disbursemAn examp
disbursemaccommod
disbursemdocument and telephand fixed
details of di
sbursement
DisbursemenTravel, AccMaterials (P
tal
structions Pty Ltd
ts
are divided in
ments are all eple of an A d
ments are extedation and se
ments are intestorage. B2
hone calls whcosts.
isbursements
ntsommodation
Photocopying
nto three typ
externally prisbursement
ernally proviearch fees. B
ernally providdisbursemen
hich are char
s on this appo
n, Search Feeg, Faxes, Tel
es: A, B1, B2
rovided profeis legal fees
ided non-proB1 disbursem
ded non-profnts are chargrged at a rate
ointment are
es etcephone expen
2.
essional serv.
fessional cosments are rec
fessional cosed at cost exwhich is int
provided
nses)
ices and are
sts such as trovered at co
sts such as phxcept for photended to rec
A
2,3 1
13,0
15,4
recovered at
ravel, st.
hotocopying tocopying, poup both var
mount$
11.5536.94
028.09
476.58
Page 28
t cost.
and printing riable
8
Repo9 Sep
Futu
Task
Asse 5 hou$2,6
Cred 35 h$13,
Emp 19 h$5,1
Com
Prac
AdmTyp
ort for HMP Consptember 2009
ure Fees – A
k Area
ets
urs 00
ditors
ours 795
ployees
ours 15
mpany
ctitioner
ministration e
structions Pty Ltd
Administrati
General
Plant and
Assets sucharges Debtors
Leasing
Creditor
Proof of
Creditor
Secured
Meeting
Employe
Employe
HMP Co
John LetHarwoodVoluntar
ion period
Description
d Equipment
ubject to speci
circulars
Debt
Enquires
Creditor
of Creditors
ees
ee Enquiry
onstructions Pt
thbridge Greigd ry Administrat
Inclu
Revie
ific All ta
Corre Revie LiaisiPaym
PrepameetiCompDebt
Respo Revietheir r CorremembCorreregardpropoRe co Forwa Prepacertificreditmeeti Respoimme Prepa
Recei Answ
ty Ltd
g and Nicholas
tion
udes
ew insurance r
asks associated
espondence wi
ewing and asse
ing with debtoments for lease
aration of repoing piling Proof ofregister in pre
ond to credito
ew and preparrepresentative
espondence wibers espondence anding Deed of osed dry hire aonvening seco
ard notice of m
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Touche Tohma
Page 29
second
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Page 30
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Report for HMP Constru September 2009
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Harwood, NicholasHughes, RichardLeech, MartinSmith, LorraineTaplin, JamesLippstreu, DebbieWong, BernardDalais, DanielDraper, RoryFranci, NeridaMontemor, CamilaSommerfeld, AmandaGrabbe, AndrewBuscombe, KerrynSeow, NadyneAdler, JonathanRidgley, PeterBennett, AlexandraMcPherson, JozefRutter, MatthewAcharya, AneeshBennett, AlexandraPrentice, JackBird, EstherStanton, LindsaySommerfeld, AmandaRippon, SamShepherd, Phillip
Total
GSTTotal (including GST)
Average Hourly Rate
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emuneration
Position
$ / ho(excGST
AppointeeCRG Partner 2DCF Partner CRG Director 1CRG Director 1CRG Manager 1CRG Snr Analyst 1CRG Snr Analyst 3CRG Snr Analyst 3CRG Snr Analyst 3CRG Snr Analyst 3CRG Snr Analyst 3CRG Analyst 1CRG Analyst 2CRG Analyst 2CRG Analyst 3CRG Analyst 3CRG GraduateCRG GraduateCRG GraduateCRG VacationerCRG VacationerCRG VacationerCRG Support ADPR Partner 3DPR Sr Analyst 1DPR Analyst 2DPR Grad 1
our cl T) Total actual hours
520 21 520 - 375 15 375 25 375 2 270 - 200 10 160 - 160 - 160 - 160 - 160 48 155 - 145 5 145 12 135 - 135 - 130 - 130 - 130 5 130 - 130 2 130 - 130 - 430 - 160 - 130 - 96 -
145
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- 5,625 9,375
750 - -
2,000 - - - -
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1,668 - - - - 650 - 260 - - - - - -
39,653 5
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274
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Page 31
Hrs $160 2 1,040
0 0875 0500 5 1,875
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260 00 00 00 00 00 00 0
95 19 5,115
394 269
Task aEmployees
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5 725 2 218
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5 650 0 0 0 0 0 0 0 0
86 18,143
212
Trade on Invarea
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17 SeptemDecembeDeloitte T
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ompany’s book
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mber 2009 – 3r 2009
Touche Tohma
Page 32
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Page 33
ees
son
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HHLSTLWDDFMSGBSARBMRABPBSSRS
TGTA
Report for HMP Constru September 2009
Calculation of Re
Employee
Harwood, NicholasHughes, RichardLeech, MartinSmith, LorraineTaplin, JamesLippstreu, DebbieWong, BernardDalais, DanielDraper, RoryFranci, NeridaMontemor, CamilaSommerfeld, AmandaGrabbe, AndrewBuscombe, KerrynSeow, NadyneAdler, JonathanRidgley, PeterBennett, AlexandraMcPherson, JozefRutter, MatthewAcharya, AneeshBennett, AlexandraPrentice, JackBird, EstherStanton, LindsaySommerfeld, AmandaRippon, SamShepherd, Phillip
TotalGSTTotal (including GST)Average Hourly Rate
ctions Pty Ltd
emuneration
Position
$ / ho(excGST
AppointeeCRG Partner 2CRG Director 1CRG Director 1CRG Director 1CRG Manager 1CRG Snr Analyst 1CRG Snr Analyst 3CRG Snr Analyst 3CRG Snr Analyst 3CRG Snr Analyst 3CRG Snr Analyst 3CRG Analyst 1CRG Analyst 2CRG Analyst 2CRG Analyst 3CRG Analyst 3CRG GraduateCRG GraduateCRG GraduateCRG VacationerCRG VacationerCRG VacationerCRG Support ADPR Partner 3DPR Sr Analyst 1DPR Analyst 2DPR Grad 1
our cl T) Total actual hours
520 41 520 - 375 10 375 70 375 10 270 - 200 10 160 - 160 - 160 - 160 - 160 5 155 - 145 10 145 110 135 - 135 - 130 - 130 - 130 127 130 - 130 - 130 - 130 - 430 - 160 - 130 - 96 -
393
Total$
Hrs21,320 10
- 3,750
26,250 15 3,750 10
- 2,000
- - - - 800 -
1,450 15,950 30
- - - -
16,510 20 - - - - - - - -
91,780 85 9,178
100,958 234
Asset$ Hrs $5,200
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Page 34
Hrs $0 10 5,2000 00 00 5.000 1,8750 00 00 00 00 00 00 00 00 00 00 10 1,4500 00 00 00 0
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130 341
Task Employees
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275 60,300
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Page 35
es,
5
Insolvency Practitioners Association of Australia ABN 28 002 472 362
33 Erskine Street, GPO Box 3921, Sydney NSW 2001 P+61 2 9290 5700 F +61 2 9290 2820 www.ipaa.com.au
Creditor Information Sheet
Offences, Recoverable transactions and Insolvent Trading
Offences
A summary of offences that may be identified by the administrator:
180 Failure by officer to exercise a reasonable degree of care and diligence in the exercise of his powers and
the discharge of his duties.
181 Failure to act in good faith.
182 Making improper use of position as an officer or employee, to gain, directly or indirectly, an advantage.
183 Making improper use of information acquired by virtue of his position.
184 Reckless or intentional dishonesty in failing to exercise duties in good faith for proper purpose. Use of
position or information dishonestly to gain advantage or cause detriment.
206A Contravening an order against taking part in management of a corporation.
206A, B Taking part in management of corporation while being an insolvent under an administration.
206A, B Acting as a director or promoter or taking part in the management of a company within five years after
conviction or imprisonment for various offences.
209(3) Dishonest failure to observe requirements on making loans to directors or related companies.
254T Paying dividends except out of profits.
286 Failure to keep proper accounting records.
312 Obstruction of auditor.
314-7 Failure to comply with requirements for financial statement preparation.
437C Performing or exercising a function or power as officer while a company is under administration.
437D(5) Unauthorised dealing with company's property during administration.
438B(4) Failure by directors to assist administrator, deliver records and provide information.
438C(5) Failure to deliver up books and records to administrator.
590 Failure to disclose property, concealed or removed property, concealed a debt due to the company,
altered books of the company, fraudulently obtained credit on behalf of the company, material omission
from Report as to Affairs or false representation to creditors.
Voidable Transactions
Preferences
A preference is a transaction such as a payment between the company and one or more of its creditors, in which the creditor receiving the payment is preferred over the general body of creditors. The relevant time
period is six months before the commencement of the liquidation. The company must have been insolvent at the time of the transaction, or become insolvent as a result of the transaction.
Where a creditor receives a preferred payment, the payment is voidable as against a liquidator and is liable to
be paid back to the liquidator subject to the creditor being able to successfully maintain any of the defences available to the creditor under either the Corporations Act.
Uncommercial Transaction
An uncommercial transaction is one that it may be expected that a reasonable person in the company's circumstances would not have entered into having regard to:
the benefit or detriment to the company;
the respective benefits to other parties; and,
any other relevant matter.
To be voidable, an uncommercial transaction must have occurred during the two years before the liquidation.
However, if a related entity is a party to the transaction, the time period is four years and if the intention of the transaction is to defeat creditors, the time period is ten years.
Insolvency Practitioners Association of Australia Creditor Information Sheet s439A report (2)
Page 2
The company must have been insolvent at the time of the transaction, or become insolvent as a result of the
transaction.
Unfair Loan
A loan is unfair if and only if the interest was extortionate when the loan was made or has since become extortionate. There is no time limit on unfair loans – they only have to have been entered into any time on or before the day when the winding up began.
Arrangements to avoid employee entitlements
If an employee suffers loss because a person (including a director) enters into an arrangement or transaction to avoid the payment of employee entitlements, the liquidator or the employee may seek to recover
compensation from that person. It will only be necessary to satisfy the court that there was a breach on the balance of probabilities. There is no time limit on when the transaction occurred.
Unreasonable payments to directors
Liquidators have the power to reclaim "unreasonable payments" made to directors by companies prior to liquidation. The provision relates to transactions made to, on behalf of, or for the benefit of, a director or
close associate of a director. To fall within the scope of the section, the transaction must have been unreasonable, and have been entered into during the 4 years leading up to a company's liquidation, regardless of its solvency at the time the transaction occurred.
Voidable charges
Certain charges are voidable by a liquidator:
Floating charge created with six months of the liquidation unless it secures a subsequent advance;
Unregistered charges; and
Charges in favour of related parties who attempt to enforce the charge within 6 months of its creation.
Insolvent Trading
In the following circumstances, directors may be personally liable for insolvent trading by the company:
a person is a director at the time a company incurs a debt;
the company is insolvent at the time of incurring the debt or becomes insolvent because of incurring the
debt;
at the time the debt was incurred, there were reasonable grounds to suspect that the company was insolvent;
the director was aware such grounds for suspicion existed; and
a reasonable person in a like position would have been so aware.
The law provides that the liquidator, and in certain circumstances the creditor who suffered the loss, may
recover from the director, an amount equal to the loss or damage suffered. Similar provisions exist to pursue holding companies for debts incurred by their subsidiaries.
A defence is available under the law where the director can establish:
there were reasonable grounds to expect that the company was solvent and they actually did so
expect;
they did not take part in management for illness or some other good reason; or,
they took all reasonable steps to prevent the company incurring the debt.
The proceeds of any recovery for insolvent trading by a liquidator are available for distribution to the unsecured creditors before the secured creditors.
Important note: This information sheet contains a summary of basic information on the topic. It is not a substitute for legal advice. Some provisions of the law referred to may have important exceptions or qualifications. This document may not contain all of the information about the law or the exceptions and qualifications that are relevant to your circumstances.
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Page 36
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f running an inspay the administ
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solvency practitrator for their s
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es he administratotee, the creditor
mmittee memb
r tasks perform
hese tasks.
ummary of out-
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it is advisable r example, ‘futurate scale) up t
creditors’ commurred.
s n the type of extnable the creditare reasonable.
nistration
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ommon method.on the administ
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me taken for th
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for the adminisrly rates will bemises, utilities, sistants), informen made for pro
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creditors shouldave a right to qu
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or must hold a mrs themselves. A
ers/creditors to
med, or to be per
of-pocket costs
approve fees for
for creditors to ure fees are appto a cap of $X’.mittee/creditors
ternal administrtors’ committee
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. Administratortration, includin
d receive a copy
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make an inform
rformed, and
s incurred or ex
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set a maximumproved calculate If the work invto approve a fu
ration: see Table, the creditors o
ditors’ mittee
1 1 1
1, 6
rs have a scale ng the administr
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involved, and a
to have accounthey have seriou
r staff. The admcost of running terannuation for
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e paid, even if th
when considerinministrator about
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members of anybe sent, with the
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le 1. The adminor the court to m
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2 2 4
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of hourly rates,rator.
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curred.
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Page 37
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Page 39
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9
Form 529
Corporations Act 2001
Notice of reconvened second meeting of creditors
HMP Constructions Pty Ltd (Receivers Appointed) (Administrators Appointed)
ACN 109 896 013 1. On 31 March 2009, Nicholas Harwood and John Lethbridge Greig of Deloitte Touche Tohmatsu were
appointed as Administrators of the above company by resolution of the directors of the company pursuant to Section 436A of the Corporations Act 2001.
2. Notice is now given that the reconvened second meeting of the creditors of the company will be held at Deloitte Touche Tohmatsu, Level 25, Riverside Centre, 123 Eagle Street, Brisbane QLD 4000, on Wednesday 16 September 2009 at 10:30 am, AEST.
3. AGENDA
a) To receive and consider the report from the Administrators
b) To resolve:
i. that the administration should end; or
ii. that the company be wound up; or
iii. that the Company execute a Deed of Company Arrangement; and
iv. if wound up, whether to appoint a committee of creditors; and
v. if so, who are to be the committee’s members
c) That the Administrators’ remuneration pursuant to the provisions of Section 449E of the Corporations Act for the period 1 July 2009 to 31 August 2009 be fixed in the amount of $171,915 (plus GST) as outlined in the Report to Creditors; and
d) That the Administrators’ future remuneration pursuant to the provisions of Section 449E of the Corporations Act for the period 1 September 2009 to 16 September 2009 be fixed and capped to an amount of $39,653 (plus GST) as outlined in the Report to Creditors
e) That the Liquidators’ future remuneration pursuant to the provisions of Section 473 of the Corporations Act for the period 17 September 2009 to 31 December 2009 be fixed and capped to an amount of $91,780 (plus GST) as outlined in the Report to Creditors
f) General business.
4. A person is not entitled to vote as a creditor at the meeting unless he or she has made known the particulars of the debt or claim and the debt or claim has been admitted wholly or in part by the Administrators of that company.
5. In providing particulars of the debt or claim, we request that that a Proof of Debt form be completed and lodged with us on or before 4pm Brisbane time on Friday 11 September 2009 to facilitate checking and recording.
6. A creditor entitled to attend and vote at the meeting may appoint a natural person over the age of 18 years (whether a creditor or not) as his or her proxy to attend and vote at the meeting. Proxies will be accepted at any time before the start of the meeting.
Dated this 9th day of September 2009 Nicholas Harwood & John L Greig Administrators
FORM 535 CORPORATIONS ACT 2001
Subregulation 5.6.49(2)
FORMAL PROOF OF DEBT OR CLAIM (GENERAL FORM)
To the Administrators of HMP Constructions Pty Ltd (Receivers Appointed) (Administrators Appointed),
1. This is to state that the company was, on 31 March 2009 (1) and still is, justly and truly indebted to(2)
................................................................................................................................................. for ................................................................... dollars and ..............................................................cents.
Particulars of the debt are:
Date Consideration(3) Amount GST Remarks(4) $ included
2. To my knowledge or belief the creditor has not, nor has any person by the creditor's order, had or received any manner of satisfaction or security for the sum or any part of it except for the following:(5)
3.(6)* I am employed by the creditor and authorised in writing by the creditor to make this statement. I
know that the debt was incurred for the consideration stated and that the debt, to the best of my knowledge and belief, still remains unpaid and unsatisfied.
3.(6)* I am the creditor's agent authorised in writing to make this statement in writing. I know that the debt
was incurred and for the consideration stated and that the debt, to the best of my knowledge and belief, still remains unpaid and unsatisfied.
DATED this day of September 2009
Signature of Signatory ......................................................................................................................................
NAME IN BLOCK LETTERS........................................................................................................................
Occupation ........................................................................................................................................................
Address .............................................................................................................................................................
I would like to receive future notices electronically. My email address is …………………………….
OFFICE USE ONLY
See Directions overleaf for the completion of this form
POD No: ADMIT - Ordinary $Date Received: / / ADMIT - Preferential $Entered into IPS/Computer: Reject $Amount per RATA $ H/Over for Consideration $
PREP BY/AUTHORISED
TOTAL PROOF $
DATE AUTHORISED / /
FORM 532 Regulation 5.6.29 Corporations Act 2001
APPOINTMENT OF PROXY
HMP Constructions Pty Ltd ACN 109 896 013 (RECEIVERS APPOINTED) (ADMINISTRATORS APPOINTED)
*I/*We ……………………………………………………………………………..………..………..………….. of ………………………………………………………...………………………………………….…….……… a creditor of HMP Constructions Pty Ltd (Receivers Appointed) (Administrators Appointed) ACN 109 896 013
Appoint…………………………………………………………………………………………………...………… (name, address and description of the person appointed) or *in his or her absence the Chairman as *my/our *general/*special proxy to vote at the meeting of creditors to be held on Wednesday 16 September 2009 at 10:30 am Brisbane time at the offices of Deloitte, Level 25, 123 Eagle Street, Brisbane Queensland or at any adjournment of that meeting and to vote:
* generally as *he/she determines on *my/our behalf OR
*specifically in accordance with the following special directions:
FOR AGAINST ABSTAIN
That the administration should end
The company should be wound up and in the absence of any other nominations, that Nicholas Harwood & John Lethbridge Greig be appointed Liquidators
That the company execute a Deed of Company Arrangement
That a Committee of Inspection be formed
I nominate (name of individual or corporate entity)………………….. …………………….to be a member of the Committee of Inspection
That the Administrators’ remuneration pursuant to the provisions of Section 449E of the Corporations Act for the period 1 July 2009 to 31 August 2009 be fixed in the amount of $171,915 (plus GST) as outlined in the Report to Creditors
That the Administrators’ future remuneration pursuant to the provisions of Section 449E of the Corporations Act for the period 1 September 2009 to 16 September 2009 be fixed and capped to an amount of $39,653 (plus GST) as outlined in the Report to Creditors
That the Liquidators’ future remuneration pursuant to the provisions of Section 473 of the Corporations Act for the period 17 September 2009 to 31December 2009 be fixed and capped to an amount of $91,780 (plus GST) as outlined in the Report to Creditors
Dated this day of September 2009
.......................…........ Signature (Individual)
CERTIFICATE OF WITNESS
(This certificate is to be completed only if the person giving the proxy is blind or incapable of writing. The signature of the creditor, contributory, debenture holder or member must not be witnessed by the person nominated as proxy)
I, , of , certify that the above instrument appointing a proxy was completed by me in the presence of and at the request of the person appointing the proxy and read to him or her before he or she signed or marked the instrument. Dated this day of September 2009 ................................ Signature of Witness Place of residence *Omit if not applicable
(1) for" or the words "to vote against" and specify the particular resolution.