12 July 2017
Baralaba Coal Company Limited (ASX: BCL) Appointment of Voluntary AdministratorsOn 12 July 2017, Jason Preston, Shaun Fraser and William Harris, all Partners of McGrathNicol were appointed Joint and Several Voluntary Administrators ("Administrators") of Baralaba Coal Company Limited ("BCL") by a resolution of its Directors pursuant to Section 436A of the Corporations Act 2001 (Cth).
The Administrators are undertaking an urgent assessment of the Company.
The objective of the Administrators is to work closely with management, employees, suppliers and customers to quickly stabilise operations and to determine the appropriate strategy for the business.
First statutory meeting of creditorsA first statutory meeting of creditors must be held within eight business days of the appointment of Administrators.
The purpose of the first meeting is to allow creditors to determine whether a committee of creditors should be appointed and to consider the appointment of an alternative Administrator.
Meeting notices setting out the time and location for the first meeting of creditors will be distributed to BCL creditors over the coming days.
Contact details and further informationInformation will continue to be uploaded to the McGrathNicol website (www.mcgrathnicol.com) and the BCL website (www.baralabacoalcompany.com.au).
For all further enquires please contact:
Creditor enquiries: Wendy Hooijer McGrathNicol Ph: +61 7 3333 9823 E: baralabacoalcompany@mcgrathnicol.com | Media enquiries: Karen Dunnicliff Sefiani Communications Group Ph: +61 435 807 761 E: kdunnicliff@sefiani.com.au |
Baralaba Coal Company Ltd. published this content on 12 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 12 July 2017 07:09:09 UTC.
Original documenthttp://baralabacoal.com.au/index.cfm/investors/asx-announcements/2017-asx-announcements/mcgrathnicol-administrators/
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