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Appointment details

Appointment type Creditors Voluntary Liquidation
Appointment date 19 October 2010
Appointees George Georges and Brendan Richards
Company subject to Administration Clive Peeters Group (see below for entities)
Office Melbourne
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KPMG contact

Philip Batey
pbatey@kpmg.com.au
+61 3 8663 8938

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Background information

At the first meeting of creditors held on 28 May 2010, Mr Brendan Richards and Mr George Georges of Ferrier Hodgson were appointed as replacement joint and several Administrators of the Clive Peeters group comprising the following entities:

  • Clive Peeters Ltd ACN 058 868 018
  • Clive Peeters Wholesale Pty Ltd ACN 058 868 723
  • Clive Peeters Kitchens & Bathrooms Pty Ltd ACN 097 301 445
  • Clive Peeters Home Entertainment (Brisbane) Pty Ltd ACN 097 301 490
  • Watercell Pty Ltd ACN 093 965 998
  • Hi-Fi Corporation (WA) Pty Ltd ACN 092 691 846
  • NTFQ Pty Ltd ACN 109 689 769
  • Rick Hart Holdings Pty Ltd ACN 112 058 787

(All Administrators Appointed) (All Receivers and Managers Appointed) (Collectively “the Group”)

Also, on 19 May 2010, Mr Philip Carter and Mr Daniel Bryant of PPB were appointed Receivers and Managers (“the Receivers”) of the Group.

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Company details

The Receivers are in control of the Group’s assets and its operations. They will be solely responsible for, and will determine all issues relating to the Group’s ongoing operations and the manner in which the assets are dealt with.

All enquiries you may have in relation to debts which have been incurred prior to the appointment of Administrators and Receivers should be directed to this office. Any queries in relation to ongoing dealings with the Group should be addressed to the Receivers, the contact details are as follows:

PPB
Level 21, 181 William Street
MELBOURNE VIC 3000
Telephone: + 61 3 9269 4000

As Administrators, we will not be responsible for any aspect of the Group’s trading operations.

On 11 June 2010 Justice Goldberg ordered pursuant to s 439A(6) of the Corporations Act 2001 (Cth) (“the Act”) the convening period for the meeting pursuant to s 439A(1) of the Act of creditors of each of:

  • Clive Peeters Ltd (administrators appointed) (receivers and managers appointed) (ACN 058 868 018);
  • Rick Hart Holdings Pty Ltd (administrators appointed) (receivers and managers appointed) (ACN 112 058 787);
  • Hi-Fi Corporation (WA) Pty Ltd (administrators appointed) (receivers and managers appointed) (ACN 092 691 846);
  • NTFQ Pty Ltd (administrators appointed) (receivers and managers appointed) (ACN 109 689 769);
  • Clive Peeters Kitchens & Bathrooms Pty Ltd (administrators appointed) (receivers and managers appointed) (ACN 097 301 445);
  • Clive Peeters Wholesale Pty Ltd (administrators appointed) (receivers and managers appointed) (ACN 058 868 723),

(together, “Trading Companies”) be extended from 15 June 2010 to 12 October 2010.

Subject to further order, pursuant to s 439A(6) of the Act the convening period for the meeting pursuant to s 439A(1) of the Act of creditors of each of:

  • Watercell Pty Ltd (administrators appointed) (receivers and managers appointed) (ACN 093 965 998)
  • Clive Peeters Home Entertainment (Brisbane) Pty Ltd (administrators appointed) (receivers and managers appointed) (ACN 097 301 490),

(together, “Dormant Companies”) be extended from 15 June 2010 to 13 July 2010.

A copy of the complete order is available below.

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Second meeting of creditors

At a second meeting of creditors held on 20 July 2010 for Watercell Pty Ltd (administrators appointed) (receivers and managers appointed) (ACN 093 965 998) and Clive Peeters Home Entertainment (Brisbane) Pty Ltd (administrators appointed) (receivers and managers appointed) (ACN 097 301 490 creditors resolved to place these entities into Liquidation and accordingly, George Georges and Brendan Richards were appointed Liquidators pursuant to Section 499(2A) of the Act.

The Administrators prepared a report to creditors under section 439A of the Act for the Trading Companies dated 8 October 2010 which has been sent to all known creditors and is available below. The report includes a notice of the 2nd creditors meeting which was held on Tuesday, 19 October 2010.

At the second meeting of creditors the creditors resolved to wind up the below entities:

  • Clivpee Ltd ACN 058 868 018
  • Clivwho Pty Ltd ACN 058 868 723
  • Clivpkb Pty Ltd ACN 097 301 445
  • Hi-Fi Corporation (WA) Pty Ltd ACN 092 691 846
  • NTFQ Pty Ltd ACN 109 689 769
  • Rickhar Pty Ltd ACN 112 058 787

Pursuant to section 499(2A) of the Act, there were no other nomination to act as Liquidator, and accordingly Administrators have become the Liquidators for the purpose of winding up the Companies affairs and distributing its property.

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Creditor communications

Information and circulars for creditors.

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ASIC insolvency material

The Australian Securities & Investments Commission provides resources on insolvency for directors, practitioners, employees, creditors and investors.

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Support

Coping with the emotional impact of financial distress.

Beyond Blue

beyondblue offers some useful resources for people struggling with the emotional impact of financial distress.

The beyondblue Support Service provides confidential, one-on-one counselling with a trained mental health professional.
Phone: 1300 22 4636

Lifeline

Lifeline offers phone crisis counselling for people who are experiencing financial and emotional hardship.

Phone: 13 11 14 Australia-wide
Online crisis support chat (7:00pm to 4:00am daily)

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