|Appointment type||Creditors Voluntary Liquidation|
|Appointment date||1 September 2014|
|Appointees||Martin Jones, Andrew Smith|
|Companies subject to Administration||Killarnee Civil & Concrete Contractors Pty Ltd ACN 085 230 486 (KCCC)
Killarnee Contracting Pty Ltd ACN 109 535 686 (KCPL)
Killarnee Equipment Holdings Pty Ltd ACN 125 969 502 (KEH)
+61 8 9278 2133
Ferrier Hodgson were appointed Voluntary Administrators of the Killarnee Group on 1 September 2014 pursuant to section 436A of the Corporations Act 2001. The first meeting of creditors was held on Wednesday, 10 September 2014.
Creditors ratified our appointment as Administrators at the first meeting of creditors held on 10 September 2014. A Committee of Creditors was not formed.
Subsequently, at the second creditors meeting of creditors held on 7 October 2014, creditors passed a resolution that the meeting be adjourned for a period not exceeding forty-five (45) business days. During this time, the Administrators continued to complete the terms of the Business Sale Agreement and interrogate the Company records in order that creditors could be better informed as to the likely returns from the alternatives available.
The reconvened second meeting of creditors was held on Tuesday, 9 December 2014, at the offices of Ferrier Hodgson at 11:00am (AWST), whereby creditors resolved to place KCCC into Liquidation, and to execute a Deed of Company Arrangement (DOCA) for KCPL and KEH in terms that are materially the same as set out in the Administrators’ supplementary report dated 1 December 2014 prepared pursuant to S439A(4)(a) of the Act.
Pursuant to S444B(2)(a), the DOCAs were executed on 23 December 2014.
The terms of the DOCAs were not met. Accordingly, the DOCAs were terminated and KCPL and KEH were placed into liquidation on 9 June 2015 and 27 October 2015 respectively.
For completeness, we note that Mr Ben Johnson and Mr Darren weaver both retired as Joint and Several Liquidators of KCCC following their registration from the Ferrier Hodgson partnership in October and December 2015 respectively, leaving Mr Martin Jones as the sole Liquidator of the Company. The same applied to KCPL and KEH and we advise that Mr Jones remains to date the sole Liquidator of the two entities.
Mr Andrew Smith was appointed as Joint and Several Liquidator of KCCC on 1 June 2016, following the approval by creditors at the annual meeting.
On 12 May 2016, we made an application to the Federal Court of Australia (WAD 181/2016) for directions as to whether the secured creditor has a priority in the preference claim recovered to the extent of the amounts paid to the employees by the Administrators / Liquidators. Subsequently, our application was amended to include (amongst other things) orders clarifying the Company’s ability and Liquidator’s power to realise the assets of the Trust and directions from the Court in respect to the order of distribution of the money available to creditors.
Questions relating to the trust issues were heard on 10 and 11 August 2017 by the Full Court of the Federal Court of Australia and we are awaiting for a decision by the Court.
An update on the progress of the liquidation of KCCC and our court application since then is provided in the:
1. Circular and annual report pursuant to section 508 of the Act issued on 16 May 2016
2. Circular to creditors dated 19 July 2016
3. Circular to creditors dated 9 September 2016
4. Circular and annual report pursuant to section 508 of the Act issued on 8 March 2017
5. Minutes of the Annual Meeting of Creditors for the year ended 9 December 2016
6. Circular to creditors dated 19 July 2017
7. Circular and report to creditors dated 4 August 2017.
Killarnee Group comprises of three entities being
The group is a family owned and operated West Australian company, specialising in remote area and civil concrete works within the Australian resource, energy and infrastructure sectors.
Information for creditors of Killarnee Civil & Concrete Contractors Pty Ltd (KCCC), Killarnee Contracting Pty Ltd (KCPL) and Killarnee Equipment Holdings Pty Ltd (KEH), collectively the Killarnee Group.
Information and communications for employees.
Court directions proceedings and documentation relating to this matter.
Coping with the emotional impact of financial distress.