View Resources Ltd (Administrators Appointed)009 162 949 / 109...

View Resources Ltd (Administrators Appointed)
009 162 949 / 109 351 439/ 102 771 871
WA

Voluntary Administration
Date of Appointment: 8/02/2008

Lead Partner(s):
Andrew Saker, Darren Weaver

Address
Perth / Australia
Level 26, BankWest Tower
108 St George's Terrace
PERTH WA 6000

Background Information
Darren Weaver and Andrew Saker were appointed as Joint and Several Voluntary Administrators to View Resources Pty Ltd, View Gold Pty Ltd and View Nickel Pty Ltd pursuant to Section 436A of the Corporations Act 2001(“the Act”) on 8 February 2008.

Current Status of Administrations & actions required by Creditors
The Administrators are working with the board and management of the companies to look at options for the possible restructure and / or recapitalisation of the companies. On Tuesday, 19 February 2008, the secured creditors of the companies exercised their rights to appoint Receivers and Managers to View Resources Ltd and View Nickel Pty Ltd. The Administrators are currently seeking expressions of interest for View Gold Pty Ltd’s assets, while the Receivers and Managers are seeking expressions of interest for View Nickel Pty Ltd’s assets.

Next milestone and estimated timetable
Reconvened second meeting of creditors of the companies to be held on or around Thursday, 1 May 2008.

Likely outcome for creditors and timetable
Possible Deed of Company Arrangement proposal being put forward to creditors of the companies or the companies proceeding into liquidation.