Ron Earp
Admin
I've received notice from our attorney that Robert Logan has appointed administrators to Roaring Forties PTY LTD. Basically, from what I know, this means handling of the company is now in the hands of attorneys and the following will be determined in the interest of the creditors:
1) Have the company enter into a Deed of Company Arrangement
2) End the administration
3) Wind up the company
This occurred on March 21st and is matter of public record. It also goes on to list the debts, which are substantial even with out counting all the deposits owed at over $420,000 that I am aware of. On the 28th a meeting will be held to start discussions on how things proceed and for creditors to make claims.
The group plans to have an attorney there, but we're currently collecting funds amoung us to continue action and be represented there, it isn't inexpensive. I hope to know more regarding how the group will proceed.
Ron
1) Have the company enter into a Deed of Company Arrangement
2) End the administration
3) Wind up the company
This occurred on March 21st and is matter of public record. It also goes on to list the debts, which are substantial even with out counting all the deposits owed at over $420,000 that I am aware of. On the 28th a meeting will be held to start discussions on how things proceed and for creditors to make claims.
The group plans to have an attorney there, but we're currently collecting funds amoung us to continue action and be represented there, it isn't inexpensive. I hope to know more regarding how the group will proceed.
Ron