SETTLERS COMPANY PTY LIMITED ATF SETTLERS PROPERTY TRUST

& SETTLERS OPERATIONS PTY LIMITED

(ADMINISTRATOR APPOINTED) (RECEIVERS & MANAGERS APPOINTED)

On the 26 August 2019, Damien Mark Hodgkinson of DEM Australasia was appointed as Voluntary Administrator to Settlers Company Pty Limited ATF Settlers Property Trust and Settlers Operations Pty Limited, pursuant to Section 436A of the Corporations Act 2001 (‘the Act’).

First meeting of creditors

The First Meeting of Creditors was held on Wednesday, 4 September 2019 held at The Grace Hotel, Level 2 Kirralaa Room, 77 York Street Sydney NSW 2000 at 2:30PM.

At that meeting, creditors considered the appointment of a Committee of Inspection and the appointment of alternative Administrator(s).  The creditors did not resolve to form a Committee of Inspection and the appointment as Administrator of the Company was confirmed.

The Receivers requested that the Administrator apply to the Court for an extension of the convening period for the second meeting of creditors to three months.

Extension of Convening Period

On 19 September 2019, the Federal Court of Australia made an order pursuant to s439A(6) of the Corporations Act 2011 (cth) that the convening period be extended up to and including 23 May 2020.

Administration Update

29 October 2019
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Extension of Convening Period

19 September 2019
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First Meeting of Creditors

4 September 2019
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Notice of Meeting of Creditors

4 September 2019
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Further Information
Please find below a copy of the Australian Securities and Investments Commission (‘ASIC’) insolvency information sheet for directors, employees, creditors and shareholders.  For an explanation of terms used in this sheet, please see ASIC’s ‘Insolvency: a glossary of terms’. For additional information, refer to the ASIC website at www.asic.gov.au/insolvencyinfosheets.