panel declines to conduct proceedings

Friday, 14 August 2009
Blue Energy Limited – Panel Declines to Conduct Proceedings
The Panel has declined to conduct proceedings on an application dated 6 August
2009 from Blue Energy Limited in relation to its affairs.
The application concerned Blue Energy board changes proposed by the receiver and
manager of Primebroker Securities Limited, who had been appointed by Australia
and New Zealand Banking Group Limited pursuant to its fixed and floating charge
(see TP09/56).
The Panel considered that the application had not been made in a timely manner and
that there was no reasonable prospect that it would make a declaration of
unacceptable circumstances. Accordingly, the Panel declined to conduct proceedings.
The sitting Panel was Garry Besson, John M Green and Karen Wood (sitting
President).
The Panel's reasons can be found on the Panel's website at www.takeovers.gov.au.
Alan Shaw
Counsel, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne, VIC 3000
Ph: +61 3 9655 3500
[email protected]