We were appointed Liquidator of Active Plastic Industries, an injection moulding and associated automotive parts assembly operation, with supply arrangements with Ford Performance Vehicles and Holden Special Vehicles. Immediately upon our appointment we negotiated a cash indemnity agreement with Ford to recommence manufacturing operations whilst the viability of the ongoing business operations was assessed. However, owing to the landlord being unwilling to support the process, business operations were permanently ceased.
We were appointed as Voluntary Administrators of the Kemalex Plastics Group. The companies operated a plastic injection moulding business producing components for the appliance, air conditioning, automotive, electronics, irrigation, building and aquaculture industries. The business continued trading under our control whilst a sale campaign was undertaken. However, notwithstanding negotiations with two interested parties over a period of 6 months, a major customer withdrew its ongoing support of the business, and sale negotiations terminated. Despite this setback, the secured creditors and employees were paid in full and a dividend paid to unsecured creditors.
We were appointed Voluntary Administrators of Besser Industries Pty Ltd, which operated a business manufacturing concrete "Besser" blocks and pavers from premises located in Winnellie, Northern Territory. At the time of the appointment, the Company was developing a substantial area of land south of Darwin for industrial purposes, which had encountered difficulties during the second stage of the development.
We were appointed as Voluntary Administrators of Pribetic, an importer and manufacturer of glass and glazing products for the commercial and domestic construction industries. We continued to trade the business whilst we pursued a sale of the business as a going concern. The business was subsequently sold and preserved the employment of staff.
We were appointed as Voluntary Administrators of Astec Paints Australia Pty Ltd as a result of a Directors dispute. The Company had previously operated a business which developed, manufactured and marketed a range of paint and other coating products which were predominantly sold in the domestic market, however some product lines were exported to Japan.
We were appointed Receivers and Managers of Spectrum Labels by the Supreme Court as a result of an acrimonious dispute between the Company's directors and shareholders. The business continued trading under our control whilst the directors and shareholders were afforded the opportunity to resolve their issues. Resolution was not reached and the business was sold to an entity related to one of the Director's and the employees were transferred.