|Appointment type||Members of Voluntary Liquidation
|Appointment date||26 June 2020|
|Appointees||John Lindholm and George Georges|
|Companies subject to Administration||
Murray Goulburn Co-Operative Co. Limited (In Liquidation)
MG Responsible Entity Limited (In Liquidation) in its own capacity and as trustee for the MG Unit Trust
MG ST Pty Ltd (In Liquidation) in its own capacity and as trustee for the MG Sub Trust
Murray Goulburn International Pty Ltd (In Liquidation)
MG Noteholder Pty Ltd (In Liquidation)
MG Shares Pty Ltd (In Liquidation)
MG Forced Sale Pty Ltd (In Liquidation)
MG Market Facilitator Pty Ltd (In Liquidation)
Collectively referred to as ‘the Group’
On 26 June 2020, members of Murray Goulburn Co-Operative Co. Limited and each of its subsidiary entities resolved to appoint John Lindholm and George Georges of KPMG as Joint and Several Liquidators in order to undertake a solvent winding up of the Group.
After the sale of the Group’s operating assets and operating liabilities to Saputo on 1 May 2018, the Company paid a distribution of approximately $443 million to Shareholders and Unitholders representing a return of funds of 80 cents per Share or Unit.
Since the completion of the Saputo transaction, the Board has progressed preparations for the winding up of the Group, including settling adjustments with Saputo, consolidating assets, winding up the Group’s activities in China, investing funds and resolving certain complex litigation matters.
The appointment of John Lindholm and George Georges is one of the key steps in winding up the Group and returning value to its Shareholders and Unitholders. In this regard, the Liquidators' immediate focus is to resolve all statutory requirements in order to allow an interim distribution of approximately $238.51 million to Shareholders and Unitholders within the next 4 months subject to tax clearance.
A trading halt has been placed on all shares and units as at COB 25 June 2020 due to the Liquidation. The transfer of any shares or units will be limited during the Liquidation.
The shareholder and unitholder FAQ will be updated when additional questions are received, however should you have any further questions please call the hotline as directed.
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