By Team Kalkine -March 11, 2019
Onterran Limited (ASX: OTR) announced about its appointment of David Clout and Patricia Talty as Voluntary Administrators of the company on date March 8, 2019.
The administrators are currently assessing OTR’s business and will work with the stakeholders to determine the appropriate strategy for the business. The administrators understand the Directors intend to put forward a Deed of company arrangement proposal and will report to creditors in relation to any such proposal received in due course.
As per the announcement, the first meeting of creditors will be held according to section 436E of the Corporations Act 2001 within eight business days after the appointment of the administrators. It is currently expected that the meeting will be held on March 20, 2019. A notice setting out the time and location of the meeting will be distributed to Onterran’s creditors in the coming days.