Fighting for Subbies Rights
Continuation of Public Examination
Statement from Rimfire Constructions Administrator Ginette Muller 30.07.2018
in response to your query on Rimfire Constructions (Qld) Pty Ltd (In Liquidation), I advise as follows:
The Federal Court has issued summonses for the continuation of examinations of the directors (for the 2nd time) and the Secured Creditor, David Cotter to attend to assist me with my investigations into the Company’s affairs. Mr Cotter, who allegedly resides in Thailand will be forced to attend the Court examination, as will his lawyer Darryl Stewart from Perth.
The Public Examination date has been set for 17 September 2018. Please remember that we are ‘not’ in control of Rimfire’s assets and we have had to move at a pace that is reflective of our means. A Receiver, Giovanni Carrello of BRI Ferrier WA took control of all the company assets shortly after our appointment.
In the circumstances matters are being progressed as quickly as they can.
End Ginette Muller Statement.
It appears that this is a very difficult file and hopefully the continuation of the examination will get to the bottom of it.
26 March 2018
Statement from Rimfire Administrator Ginette Muller.
I refer to our discussion today and advise that the public examination of the three directors (Danny Cain, Adam Moore and Cameron Kirkwood) will take place tomorrow morning before Registrar Lynch at the Federal Court of Australia.
The focus of the PE will be varied however we are keen to understand how the company was financially established and whether any parties involved in the establishment, management or ownership of the company have been party to any uncommercial transactions. In particular, the Directors will be asked to explain why, in 2017, a former director and shareholder (Cotter) became a secured creditor, thereby improving his priority over unsecured creditors (which include many subcontractors). Their actions (and possibly others) in potentially trying to re-write the history of the company by converting the original seed capital of $2m in shares to a secured loan will be closely examined.
Other matters which will need to be examined is the appointment of a Receiver by Cotter. After intense scrutiny, last month the Receiver resigned and then on the same day, was reappointed by Cotter under an older security agreement. The Receiver has also been summonsed to produce documents and to be examined. The Liquidators expect to receive the Receiver’s documents tomorrow. A date to examine the Receiver, Mr Cotter and their legal advisors is yet to be set but it is intended that those examinations will follow on from the examinations of the directors in due course.
One final matter that may arise is the reason that the Directors believe the company collapsed, when the directors consider the company became (and remained) insolvent, and what actions they took in this respect.
End Statement