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Babcock & Brown investigations deferred until New Year


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The Liquidators of Babcock & Brown Limited, Deloitte partners David Lombe and Simon Cathro, have today announced their intention to defer the public examinations to the New Year.

The adjournment will allow the Liquidators more time to review the large volume of Babcock & Brown Limited material that has been produced, following service of many ‘Notices to Produce’ on prospective examinees. Some prospective examinees have not yet fully responded to the Notices and this has delayed the production process.

The Liquidators will shortly approach the Federal Court to seek revised hearing dates for the public examinations. It is expected that the public examinations will now take place in January or February 2010.

Mr Lombe commented, “It is our intention to maximise the value of the public examinations and this is best achieved by deferring these examinations to the New Year.”

Other documents of interest released by the liquidators

Key dates in the Liquidation of Babcock & Brown Limited

13 March 2009 Deloitte Corporate Reorganisation Group Partners David Lombe and Simon Cathro appointed as Voluntary Administrators of Babcock & Brown Limited
25 March 2009 First meeting of creditors
8 April 2009 Extension for convening period for the second creditors meeting from Federal Court of Australia
29 April 2009 Resignation of Directors
10 June 2009 Babcock & Brown Limited delisting announcement from the Australian and NZ Stock Exchanges and statement regard (tax options) released.
  17 June delisting of ASX
  24 June delisting of NZX
12 August 2009 Report to creditors (Voluntary Administrators 439A Report)
24 August 2009 Second creditors meeting and resolution that BBL be wound up
25 November 2009 Public Examinations

 

NB: See our media releases and research at www.deloitte.com.au. For information about the role of a liquidator, please refer to: Australian Securities & Investment Commission website.

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Contacts

Name:
Karina Randall
Company:
Deloitte Australia
Job Title:
Corporate Affairs & Communications
Phone:
Tel: + 61 2 9322 3778, Mobile: +61 414 823 712
Email
karandall@deloitte.com.au

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