Moreton Resources Limited (in Liquidation) (Receivers Appointed) (Subject to Deed of Company Arrangement) 03 - Panel Receives Application [07/07/2022] The Takeovers Panel

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TP22/47
Thursday, 7 July 2022

Moreton Resources Limited (in Liquidation) (Receivers Appointed) (Subject to Deed of Company Arrangement) 03 – Panel Receives Application

The Panel has received an application from the board of Moreton Resources Limited (in Liquidation) (Receivers Appointed) (Subject to Deed of Company Arrangement) (Applicants) in relation to the affairs of Moreton.

Details of the application, as submitted by the Applicants, are below.

A sitting Panel has not been appointed at this stage and no decision has been made whether to conduct proceedings. The Panel makes no comment on the merits of the application.

Details

Moreton is a company under various forms of external administration with approximately 2,100 members.

On 10 June 2020, Mr Grant Sparks and Mr David Orr of Deloitte Financial Advisory Pty Ltd were appointed joint and several administrators of Moreton. Messrs Sparks and Orr were subsequently appointed liquidators of Moreton on 15 July 2020.

On 3 May 2022, Mr David Hambleton and Ms Kaily Chau of Rodgers Reidy (Qld) Pty Ltd were appointed joint and several administrators of Moreton.

On 25 May 2022, Mr Darryl Kirk and Mr Matthew Joiner of Cor Cordis were appointed receivers (Receivers) under the terms of a secured debenture deed.

On 7 June 2022, a deed of company arrangement was executed. Mr David Hambleton and Ms Kaily Chau were appointed deed administrators.

The Applicants are seeking a declaration and interim and final orders, including that the appointment of the Receivers be set aside.

Allan Bulman
Chief Executive, Takeovers Panel
Level 16, 530 Collins Street
Melbourne VIC 3000
Ph: +61 3 9655 3500
takeovers@takeovers.gov.au