Palandri Wine Group into liquidationDOWNLOAD
Warrick Hazeldine / Ryan McKinlay
Tel: +61 (0) 8 9485 154
Creditors for the Palandri Wine Group (the Group) today voted to accept the recommendation from the Voluntary Administrators and place all the companies within the Group into liquidation.
In its report to creditors, the Administrators recommended they vote in favour of placing the companies into liquidation, as the return to creditors was likely to be higher if the Group was wound up than it would be under a proposed Deed of Company Arrangement.
This recommendation was supported at a Creditors Meeting held today in Perth.
Creditors also voted to appoint Administrators Neil Cussen, John Greig and Gary Doran from Deloitte as Liquidators for the Group of Companies.
The Administrators will distribute a report to Palandri creditors advising of the outcomes of today’s meeting, and as Liquidators, will commence activities to investigate and wind up the Group of Companies immediately.
Tel: +61 (0) 8 9365 7000