FYI
The Second Meetings of Creditors was held on 30 January 2024 where the creditors of the Halo Food Group of companies resolved to wind up the companies and Michael Korda and Robert Hutson of KordaMentha were appointed Liquidators of the companies.
We note that the Receivers and Managers of KPMG are still finalising the sales of the businesses and that they expect to retire in March 2024. As per our Administrators Report issued on 22 January 2024, the Receivers and Managers have advised that it is unlikely that unsecured creditors will receive a dividend and as such the shareholders of ASX: HLF are unlikely to receive any dividend.
As part of their statutory duties the Liquidators will lodge a report within 3 months of appointment, which will include details of the Liquidators investigation. This report will include an updated opinion on the possibility of unsecured creditors receiving a dividend.
If the opinion in this report is that unsecured creditors are still unlikely to receive a dividend the Liquidators will make an update to shareholders via the creditors section on the KordaMentha website which may include a declaration of worthless shares
