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Octaviar decision handed down


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Deloitte partners, John Greig and Nicholas Harwood, have today been appointed as provisional liquidators of Octaviar Limited and liquidators of Octaviar Administration Pty Ltd respectively by an order of the Supreme Court of Queensland.

Justice McMurdo, of the Supreme Court of Queensland, has today handed down his decision in relation to the future of the Gold Coast based Octaviar Group terminating the Octaviar Limited and Octaviar Administration Pty Ltd deeds of company arrangement.

The next step for the liquidators will be to undertake further detailed investigations into the affairs of the above companies, as foreshadowed in the previous reports to creditors.

Timeline of events:

13 Sept 2008  
  Deloitte Corporate Reorganisation Group partners, John Greig and Nicholas Harwood, were appointed Voluntary Administrators of Octaviar Limited, Octaviar Financial Services Limited, Octaviar Investment Notes Limited, Octaviar Investment Bonds Limited.
3 October 2008  
  John Greig and Nicholas Harwood, were appointed Voluntary Administrators of Octaviar Administration Pty Ltd.
10 December 2008  
  Report to Creditors released by the Voluntary Administrators
17 December 2008  
  Second creditors meetings held (Brisbane).
12 January 2009  
  Deeds of Company Arrangement executed by the Directors of Octaviar Administration Pty Ltd and Octaviar Limited.


To read the full press release, download the attachment below.

NB: See our media releases and research at www.deloitte.com.au

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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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