Homestead Homes Pty Ltd - McGrathNicol

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27 October 2016

Homestead Homes Pty Ltd ACN 008 011 041 (In Liquidation) (“the Company”)

Circular to Creditors I advise that Barry Kogan and I were appointed Joint and Several Liquidators of the Company on 17 October 2016. Meeting of creditors A meeting of creditors must be convened within 11 days of my appointment. The meeting for the Company will be held at The Law Society of SA, Level 10, 178 North Terrace, Adelaide, SA on Friday, 4 November 2016 at 9:00AM. Registration for the meeting will open at 8:30AM. Accordingly, I attach for the Company: 

a statutory notice convening the meeting (Form 529);



a Summary of Affairs (Form 509) provided by the Director;



a list of creditors;



information for attending and voting at a meeting of creditors;



a Proof of Debt form (Form 535), along with an information sheet to assist you to complete the form; and



a Proxy form (Form 532) and instructions.

Attendance and voting requirements Creditors who intend to vote at the meeting are requested to lodge a proof of debt with us prior to the meeting. Creditors who are unable to attend the meeting and wish to be represented, should ensure that either a proxy form, power of attorney or evidence of appointment of a company representative pursuant to section 250D of the Corporations Act 2001 (“the Act”) is validly completed and provided to us prior to the meeting. If a faxed copy of a proxy or power of attorney is provided to us prior to the meeting, the original of the instrument must be received within 72 hours of receipt of the faxed copy. Alternatively, proxy forms can be emailed to [email protected] Proxy forms lodged via email must be validly executed by signing and scanning the completed form. Corporate creditors who wish to attend the meeting should note that they may only be represented by an individual if that person is validly granted a proxy or power of attorney by that corporation, or appointed as a company representative pursuant to section 250D of the Act. Proof of debt and proxy forms may be provided to us prior to the meeting or brought to the meeting. Proof of debt forms can be emailed to [email protected]

1. Circular to creditors-first meeting -BC

Declaration of Independence, Relevant Relationships and Indemnities In accordance with Section 506A of the Act and the Australian Restructuring, Insolvency and Turnaround Association (“ARITA”) Code of Professional Practice, a Declaration of Independence, Relevant Relationships and Indemnities is enclosed for your information. This declaration discloses information regarding our independence, any prior personal or professional relationships with the Company or related parties and any indemnities received in relation to this appointment. Remuneration The Joint and Several Liquidators’ remuneration can only be fixed by resolution of creditors, a resolution of a committee of inspection or by application to the Court. The resolutions relating to remuneration which will be put to the creditors at the meeting are detailed in the attached Remuneration Report. In accordance with section 499 of the Act and the ARITA Code of Professional Practice, a Schedule of Remuneration Methods and Hourly Rates and detailed Remuneration Report is also enclosed for your information. ******** A copy of the “Insolvency information for directors, employees, creditors and shareholders” information sheet issued by the Australian Securities & Investments Commission (“ASIC”) is enclosed for your information. If you require any further information, please contact my office on (03) 9038 3100. Yours faithfully

Homestead Homes Pty Ltd (In Liquidation)

Matthew Caddy

Liquidator

Enclosure(s): Enclosures listed on the first page of this circular ASIC Insolvency Information for directors, employees, creditors and shareholders Declaration of Independence, Relevant Relationships and Indemnities Schedule of Remuneration Methods and Hourly Rates Remuneration Report

Page 2

FORM 529

Corporations Act (2001) Subregulation 5.6.12 (2) NOTICE OF MEETING OF CREDITORS OF COMPANY Homestead Homes Pty Ltd ACN 008 011 041 (In Liquidation) (“the Company”)

Notice is given that a meeting of the creditors of the Company will be held at The Law Society of SA, Level 10, 178 North Terrace, Adelaide at 9:00AM on 4 November 2016 to consider the following: 1.

To confirm the appointment of Matthew Caddy and Barry Kogan as Liquidators or to appoint another person(s) as Liquidator in their place.

2.

To consider any matters arising out of the Liquidation.

3.

To approve the remuneration of the Liquidators.

4.

If thought fit, to appoint a Committee of Inspection.

5.

To consider the approval of the Liquidators’ powers to compromise certain debts of the Company and to enter into agreements for terms of greater than three months.

6.

To authorise the destruction of the books and records of the Company following the deregistration of the Company, subject to the consent of the Australian Securities and Investments Commission being obtained.

7.

To discuss any other relevant business which may arise.

Registration for the meeting will open at 8:30AM. Dated 27 October 2016

Matthew Caddy

Liquidator

Australian Securities & Investments Commission

Presentation of summary of affairs of a company

Form 509

Corporations Act 2001 497(2)(b)(i)

If there is insufficient space in any section of the form, you may attach an annexure and submit as part of this lodgement

Lodgement details

Who should ASIC contact if there is a query about this form? Name Andrew Wharton

ASIC registered agent number (if applicable) n/a

Company/entity name McGrathNicol

ACN/ABN/ARBN/ARSN 41 945 982 761

Telephone number (03) 9038 3100

Postal address Level 6, 171 Collins Street, Melbourne VIC 3000 Australia

Email address (optional) n/a

Company details

Company name Homestead Homes Pty Ltd

ACN 008 011 041

Summary of assets and liabilities Date to which summary is made up Date 1

[D

ASIC Form 509

6 / 1

D] [M

0 /1

M] [Y

6

Y]

17 January 2011

Page 1 of 2

Homestead Homes Pty Ltd (In Liquidation) - Creditor list Name

Address

A1 BRICKLAYING

11 FARMING CRESCENT, HALLETT COVE, SA, 5158

ADELAIDE DIRECT STATIONERS

29 O. G. ROAD, KLEMZIG, SA, 5087

ADELAIDE INDEPENDENT FIRE

PO BOX 773, MODBURY, SA, 5092

ADELAIDE MARBLE SPECIALISTS

PO BOX 2111, REGENCY PARK BC, SA, 5010

AFFORDABLE ANTENNAS/M COOK & C.B ROBERTS

13A KARA CRESCENT, GULFVIEW HEIGHTS, SA, 5096

AGL SOUTH AUSTRALIA PTY LTD

LOCKED BAG 24, ADELAIDE, SA, 5001

AGRON & MYRVET ZENUNI

Amount of claim ($) 5,200.20 497.82 324.50 52,305.00 420.00 2,677.85 11,116.47

AJT LANDSCAPES/ ANDREW THOMPSON

27 BARRDICKSON CRESCENT, HAPPY VALLEY, SA, 5159

ALDO FAMILY TRUST/TOWER CONCRETE PUMPING

PO BOX 3173, NEWTON, SA, 5074

3,440.18 7,019.76

ANDREW CROFT

Not quantified

ANDREW JONES

Not quantified

ANTON SCHRAMA

8,309.95

ARCHI-VISIONS/DAO, NHAN

UNIT 3 / 19 SOUTH AUSTRALIA ONE DRIVE, NORTH HAVEN, SA, 5018

ATF SERVICES PTY LTD

PO BOX 47, CONCORD, NSW, 2137

AUSTRAL BRICKS

PO BOX 26, SURREY DOWNS, SA, 5126

AUSTRALIA POST

GPO BOX 5211, MELBOURNE, VIC, 3001

AUSTRALIAN ACRYLIC REPAIRS/A.C LONGFORD & A.L LONGFORD

8 HEITMANN COURT, TEA TREE GULLY, SA, 5091

BARBETTE PTY LTD/THE GERRITSEN FAMILY TRUST

3 CLIPPER COURT, SEAFORD, SA, 5162

BEACON LIGHTING PTY LTD

PO BOX 108, MT WAVERLEY, VIC, 3149

BEAUMONT TILES

225 MARION ROAD, MARLESTON, SA, 5033

38,470.87

BEILER CONSTRUCTIONS / TRUSTEE FOR FOX TRADING TRUST

78 BAKER STREET, GLENGOWRIE, SA, 5044

21,188.27

BENNETT PLUMBING & CIVIL P/L/TTF ROGER BENNETT FAMILY TRUST

PO BOX 332, LONDSALE, SA, 5160

36,704.80

BENPAR CONSTRUCTIONS/TTF CD BENNETT & TTF RE PARDOE

37 WAINHOUSE STREET, TORRENSVILLE, SA, 5031

BETTA HOME FURNISHINGS

P O BOX 3491, NORWOOD, SA, 5067

BIANCO CONSTRUCTION & INDUSTRIAL SUPPLIES

42-56 GRAND JUNCTION ROAD, KILBURN, SA, 5084

BIANCO HIRING SERVICE PTY LTD

PO BOX 1, POORAKA, SA, 5095

BJ & CM PETERSON

5,154.00 9,746.63 117,540.40 1,092.71 440.00 15,063.40 9,694.61

5,287.91 16,152.00 2,466.48 8,630.70 30,973.29

BOB HUISKAMP

Not quantified

BORAL CONSTRUCTION MATERIALS

ACCTS. RECEIVABLE DEPT, LOCKED BAG 5025, PARRAMATTA, NSW, 2124

BORAL HOLLOSTONE MASONRY (SA) PTY LTD

ACCTS.RECEIVABLE DEPTLOCKED BAG 5082, PARRAMATTA, NSW, 2124

BRENDAN KEARNS

237,742.43 185,755.96 Not quantified

BRUSHTEX PTY LTD

62 EXMOUTH ROAD, GLANDVILLE, SA, 5015

BUILDING DYNAMIX (WESTSIDE) /TTF BUILDING DYNAMIX TRUST

PO BOX 169, DRY CREEK, SA, 5094

BUILDING SEALANTS INDEPENDENT PTY LTD

PO BOX 1526, KERSBROOK, SA, 5231

BUNNINGS BUILDING SUPPLIES

P O BOX 160, WELSH POOL, WA, 6986

BURNS CEILINGS

PO BOX 64, HOLDEN HILL, SA, 5088

BYRNE, LINDA

27,610.64 6,754.00 440.00 5,208.36 745,804.40 Not quantified

C DENNIS CARPET SERVICE/MILLPINE PTY LTD

PO BOX 458, INGLE FARM, SA, 5098

2,887.61

CADD BRICKLAYING & CONSTRUCTION / DONNA MUMFORD

15 ROBINSON STREET, SHEIDOW PARK, SA, 5158

9,065.14

CANON AUSTRALIA PTY LTD

PO BOX 313, NORTH RYDE, NSW, 1670

CANON FINANCE AUSTRALIA

1 THOMAS HOLT DRIVE, MACQUARIE PARK NSW 2113

CARPET CALL (VIC) PTY LTD

P O BOX 166, MULGRAVE NORTH, VIC, 3170

CASEY, DANIEL

401.52 Not quantified 25,914.99 Not quantified

CBS BINS

PO BOX 1008, WILLASTON, SA, 5118

CD CUSTOM DESIGNS PTY LTD

PO BOX 19, SURREY DOWNS, SA, 5126

CHRIS SHORT

34,551.00 172,185.83 Not quantified

CIC REALTY SA PTY LTD

LEVEL 3, 64 ALLARA STREET, CANBERRA, ACT, 2601

CITY CONCRETE PUMPING PTY LTD

5 ANTONIO COURT, NEWTON, SA, 5074

COASTAL CARPENTRY SA/TROY JONATHON SMITH

139 ESPLANADE, PORT NOARLUNGA SOUTH, SA, 5167

CONCRETE BUSTERS PTY LTD

PO BOX 55, INGLE FARM, SA, 5098

1,760.00

CONSTRUCTION CAULKING SERVICES/TTF S & K PORTOLESI FAMILY TRUST

PO BOX 101, KLEMZIG, SA, 5087

1,320.00

CONSTRUCTION INDUSTRY TRAINING BOARD

PO BOX 1227, UNLEY, SA, 5061

DAVID FERGUSON

385.00 2,128.72 24,766.71

100.00 60.00

DAVID HUGHES

Not quantified

DAY, JOANNA

Not quantified

DAY, JOHN DEPUTY COMMISSION OF TAXATION

Not quantified AUSTRALIAN TAXATION OFFICE, LOCKED BAG 1936, ALBURY NSW, 1936

DES MEDHURST

119,646.95 Not quantified

DIRECT INSTALLATIONS

PO BOX 71, INGLE FARM, SA, 5098

DIRECT INTERIORS

P O BOX 2528, REGENCY PARK, SA, 5942

DIRECT SKYLIGHT SUPPLIES P/L

PO BOX 3181, SALISBURY EAST, SA, 5109

DOMENIC MECURI

19,409.80 212,684.72 1,925.00 Not quantified

DOMINIQUE MARTINS

7,943.04

DOWELL WINDOWS PTY LTD

PO BOX 571, ELIZABETH, SA, 5112

ENVIRONMENTAL LAND SERVICES (AUST)

11 GARDEN BOULEVARD, DINGLEY VILLAGE, VIC, 3172

FANTASTIC FINISH PAINTING/ GHULAM HAIDARI ZADA

2 BOWMAN CRESCENT, ENFIELD, SA, 5085

FERGUSON, HELEN IRIS

175,322.15 814.00 7,633.00 Not quantified

FINLAY PLUMBING SERVICES PTY LTD

UNIT 1, LOT 12 SHEARER DRIVE, SEAFORD, SA, 5169

FOOTERSVILLE PTY LTD

PO BOX 2495, REGENCY PARK, SA, 5942

FRANK ROMANO

94,012.57 95,660.15 Not quantified

FREEMAN WAUCHOPE PTY LTD

93 MORPHETT ROAD, CAMDEN PARK, SA, 5038

45,883.14

G.F. & A.E MARTIN PTY LTD

PO BOX 1014, GAWLER, SA, 5118

23,246.10

GARY SENSIER GEORGE KOUVARIS

5,797.35 Not quantified

Homestead Homes Pty Ltd (In Liquidation) - Creditor list Name

Address

GLEAM AND CLEAN/G & Z ANTONIOU

PO BOX 94, MARLESTON DC, SA, 5033

GLIDEROL INTERNATIONAL PTY LTD

P O BOX 47, HOLDEN HILL, SA, 5088

GOLDEN GROVE SECURITY SERVICES/ M J & T A KIRK

18 ANNE-MARIE COURT, GOLDEN GROVE, SA, 5125

GRASSO, DAVID 928 NORTH EAST ROAD, MODBURY, SA, 5092

HALLS CRANE HIRE/TTF JOAG FAMILY TRUST

PO BOX 938, NORTH ADELAIDE, SA, 5006

HANDY CAN RUBBISH SOLUTIONS

PO BOX 587, PLYMPTON, SA, 5038

HELYAR, ROHAN PO BOX 424, GLENELG, SA, 5045

HIA INSURANCE SERVICES

PO BOX 550, HINDMARSH, SA, 5007

HOLTAN BUILDING AND MAINTENANCE SERVICES

PO BOX 472, STRATHALBYN, SA, 5255

HP FINANCIAL SERVICES

208/203 BLACKBURN ROAD, MT WAVERLEY VIC 3149

INCENTIVE ENTERTAINMENT PARTNERS PTY LTD

C/- HWL EBSWORTH LAWYERS, GPO BOX 5408, SYDNEY NSW 2001

INDEPENDENT SCAFFOLDING SERVICES PTY LTD/TTF KNIGHT FAMILY TRUST

PO BOX 3017, NORWOOD, SA, 5067

INDUSTRY FUNDS CREDIT CONTROL

PO BOX 13275, LAW COURTS, MELBOURNE VIC 8010

INITIAL HYGIENE

PO BOX 6806, SILVERWATER, NSW, 1811

INTERNODE SYSTEMS PTY LTD

PO BOX 284RUNDLE MALL, ADELAIDE, SA, 5000

IOSIF PITUT

LOT 20 (302) WOMMA ROAD, PENFIELD, SA, 5121

ISHAN GNANACHANDRAN

6,391.00 10,008.65 286.00 1,172.16 12,650.06 6,743.00 Not quantified 704,919.23 25,094.30 Not quantified 345.36 42.45 5,645.41 Not quantified

1252 REDGUM CT MT BARKER

JON TRELOAR

Not quantified Not quantified

JONES LANG LASALLE PTY LTD

PO Box 2500, QVB, SYDNEY, NSW, 1230

JR BRICKLAYING / TRUSTEE FOR JR OTTERSPOOR TRUST

32 LAVER STREET, MOUNT BARKER, SA, 5251

JUST BOBCATS/JUSTCO SERVICES PTY LTD

PO BOX 348, GREENWITH, SA, 5125

K FRANKENFELD

20,965.36 440.00 5,405.29 1,573.00

KALAITSIDIS FAMILY TRUST

6 CHARD CRT, PARAFIELD GARDENS, SA, 5107

KAROB TRADING PTY LTD

PO BOX 184, VICTOR HARBOR, SA, 5211

KBS CONSULTANTS/TRUSTEE FOR KBS TRUST

59 HUGHES STREET, UNLEY, SA, 5061

KENNARDS HIRE (S.A) PTY LTD

LOCKED BAG 2025, SEVEN HILLS, NSW, 2147

KERIN, REBEKAH STACEY

1,496.00 1,806.72 10,616.71 615.00 Not quantified

KIDMAN CONTRACTORS/KIDMAN CONTRACTORS UNIT TRUST

2 PIOVESAN COURT, KIDMAN PARK, SA, 5025

KINETIC CONCRETE PUMPING/ TTF KAD INVESTMENT TRUST

PO BOX 100, FERRYDEN PARK, SA, 5010

KNOWLES, LINDA

5,043.01 3,296.04 Not quantified

41 BEULAH ROAD, NORWOOD, SA, 5067

KYM LESLIE LAND SERVICES GROUP

1,278.02

Not quantified

HERSEY BROS CONCRETE PUMP/COLIN W & BEVERLEY A & TREVOR R HERSEY

KWIK KOPY PRINTING CENTRE

5,331.25 64,089.58 Not quantified

H.T.P. DRAFTING PTY LTD/TTF THE RAMSEY FAMILY TRUST

J & B DEVELOPMENT INV

Amount of claim ($)

2,110.60 Not quantified

GPO BOX 1354, ADELAIDE, SA, 5001

LIAM HOARE

871.20 1,171.32

LIDD ELECTRICAL PTY LTD/TTFTHE LIDDEMORE FAMILY TRUST

PO BOX 599, ST AGNES, SA, 5097

60,762.12

LIGHTNING DRAINAGE/TTF THE DAMIEN BENNETT TRUST

PO BOX 300, PARK HOLME, SA, 5043

18,409.50

LOAD 28 CRANE HIRE/ TTF MJR TRUST

PO BOX 3211, PORT ADELAIDE, SA, 5015

LYNCH & MEYER

GPO BOX 467, ADELAIDE, SA, 5001

LYNCH & SARACINO CONSTRUCTIONS PTY LTD

PO BOX 133, LAURA, SA, 5480

MAGNERA MASONS/A & J MAGNERA

18 BRISTOL CRESCENT, HIGHBURY, SA, 5089

MANNIX AIRCONDITIONING PTY LTD

83 SAINTS ROAD, SALISBURY PLAIN, SA, 5109

MARK KULINSKI

232.10 6,906.33 15,004.00 406,815.82 Not quantified

MARK RAMSEY

550.00

MASTER ELECTRICAL CO PTY LTD

25 ELLEMSEA CIRCUIT, LONSDALE, SA, 5160

MATTSSON & MARTYN/J.I. MATTSSON & C.M. MSTTSSON

P O BOX 248, MARDEN, SA, 5070

MAXIPLAS - ROTO PTY LTD

PO BOX 110, BLACK FOREST, SA, 5035

MCCORMACK, LEANNE TRACY

82,358.84 4,427.50 1,905.00 Not quantified

MCKENNA HAMPTON INSURANCE BROKERS

PO BOX 204, WEST PERTH, WA, 6872

MENTOR SUPERANNUATION MASTER TRUST

LOCKED BAG 1000, WOOLLONGONG DC, NSW, 2500

METAL-LINK PTY LTD

10 FLORENCE STREET, HENDON, SA, 5014

MIRO PETER SKOLJAREV MOYLE BENDALE TIMBER PTY LTD

4,913.16

5,620.00 100.48 221,973.06 2,253.39

PO BOX 121, WOODVILLE, SA, 5011

MS L GRACE

20,640.73 1,500.00

NATIONAL AUSTRALIA BANK LIMITED

GROUP STRATEGIC BUSINESS SERVICES, LEVEL 34, 500 BOURKE STREET, MELBOURNE VIC 3000

NATIONWIDE AUSTRALIAN INVESTMENTS

C/- MCGRATHNICOL. GPO BOX 9986, MELBOURNE VIC 3001

NEALE TAYLOR PLUMBING & GAS

4 EDISON DRIVE INDUSTRIAL PARK, GOLDEN GROVE, SA, 5125

NEATE, JOANNE WENDY

11,346,809.78 7,082.00 414.25 Not quantified

NORTHERN SAND & METAL

PO BOX 457, SALISBURY SOUTH, SA, 5106

NORTHGATE CONCRETE PUMPING/DJ & WM SAUER

39 IMMANUEL DRIVE, SALISBURY HEIGHTS, SA, 5109

NOVA TILING CONTRACTORS (N & SA GIOBBI)

PO BOX 318, ST AGNES, SA, 5097

12,495.03

OAKRIDGE BUILDING SERVICES PTY LTD

PO BOX 164, KANGARILLA, SA, 5157

10,164.00

ORIGIN ENERGY

GPO BOX 2437, ADELAIDE, SA, 5000

P & SE JACKSON AND N & L JACKSON

191,679.70 1,356.30

1,945.97 32,001.94

PARAFIELD GAS SERVICE/TTF PARAFIELD GAS SERVICES TRUST

33 SANTORINI WALK, MASWON LAKES, SA, 5095

PASQUALE NAPOLI (PATS PAINTING)

11 REGAL PLACE, PARA HILLS, SA, 5096

PAUL MANNS

10,962.60 4,150.58 Not quantified

PEPPER, JORDAN

Not quantified

PETER PAN THE GLASS MAN

UNIT 5, 120-122 TOLLEY ROAD, ST AGNES, SA, 5097

PGH CLAY BRICKS AND PAVERS

202 GREENWITH ROAD, GOLDEN GROVE, SA, 5125

13,963.62

904.20

PIONEER WATERPROOFING/MESSRS A & P CALVANESE

48 TENNYSON AVE, TRANMERE, SA, 5073

13,023.56

PREMIUM APPLIANCE INSTALLS/TTF K & D READ FAMILY TRUST

8 KATHERINE CRESCENT, CRAIGMORE, SA, 5114

3,579.60

Homestead Homes Pty Ltd (In Liquidation) - Creditor list Name

Address

PRESTIGE FOUNDATIONS/TTF DIGERONIMO FAMILY TRUST

1057 LOWER NORTH EAST ROAD, HIGHBURY, SA, 5089

PRIOR CONCRETE CONSTRUCTIONS

PO BOX 6166, WEST LAKES SHORE, SA, 5020

PRITCHARD, SHAREE

Amount of claim ($) 4,662.03 32,663.15 Not quantified

QBE INSURANCE (AUSTRALIA) LIMITED

GPO BOX 4323, MELBOURNE VIC 3000

RACHEL WALLIS DESIGN AND DRAFTING

26 SHANAHAN ROAD, DAVENPORT WA 6230

RASERA, VIC

Not quantified 48,018.46 Not quantified

RCI CONSULTING ENGINEERS/RESIDENTIAL COMM INDUS CONSULTING ENGINEERS P/L

1 HAWKE STREET, ALBERT PARK, SA, 5014

REALFENCE INDUSTRIES TRUST REALFENCE

17 JERVOIS STREET, SOUTH PLYMPTON, SA, 5038

REGENCY

PO BOX 2161, REGENCY PARK, SA, 5942

RES CODE CERTIFIERS (SA) PTY LTD

PO BOX 523, KENSINGTON PARK, SA, 5068

REVENUE SA

RETURNS & LICENCES GPO BOX 2418, ADELAIDE, SA, 5001

RICHARD OSBORNE

63,181.58 2,355.54 31,228.36 3,565.00 13,920.40 Not quantified

RICK PERRY

Not quantified

ROBERTSONS GLAZING PTY LTD/TTF ROBERTSON FAMILY TRUST

4 VENTAIL COURT, HOLDEN HILL, SA, 5088

ROMAN MAINTENANCE PTY LTD

21 ST ALBANS AVE, VALLEY VIEW, SA, 5093

RONALD & TRACEY VAN ZOELEN

2,449.98 4,042.68 25,227.50

ROWAN, MATTHEW JOHN

Not quantified

RYAN, RICHARD JOHN

Not quantified

S A SECURITY MONITORING

P O BOX 302, TORRENSVILLE PLAZA, SA, 5031

S CLASOHM HOLDINDS PTY LTD

120 BAY ROAD, MOONTA BAY, SA, 5558

SA CONSTRUCT PTY LTD

PO BOX 552, WELLAND, SA, 5007

SA WATER CORPORATION

250 VICTORIA SQUARE, ADELAIDE, SA, 5001

SEAVIEW JOINERY

PO BOX 2528, REGENCY PARK, SA, 5094

11,324.06

SEEK TECHNOLOGY

PO BOX 2005, HILTON PLAZA, SA, 5033

330.00

SENSIS

GPO BOX 9850, MELBOURNE, VIC, 3001

SHAUN SMITH

330.00 4,317.50 3,808.00

84.37 1,135.00

SIE WEN

Not quantified

SIMON MOORE

560.03

SJS3 (SA) PTY LTD

89 H1 RAGLESS PARKHOLME

SMART POSTS/ERINEX PTY LTD

35 WEAVER STREET, EDWARDSTOWN, SA, 5039

SOUTH AUSTRALIAN COUNTRY FIRE SERVICE

SHARED SERVICESGPO BOX 11028, ADELAIDE, SA, 5251

SPARTAN ELECTRICAL & FURNITURES

PO BOX 284, CAMPBELLTOWN, SA, 5074

STAR DOORS PTY LTD

5B ERUDINA AVENUE, EDWARDSTOWN, SA, 5039

STEL COMMUNICATIONS PTY LTD

243 GRANGE ROAD, FINDON, SA, 5023

STEPHEN RONALD DEW

Not quantified 1,860.50 426.00 116,843.70 5,470.30 15,006.20 4,697.26

STEVEN MAXWELL

1,545.50

STRATCO

PO BOX 307, ENFIELD PLAZA, SA, 5085

SUNSUPER

GPO BOX 2924, BRISBANE QLD 4001

SURINDER SINGH/ THE SINGH FAMILY TRUST

208.46 3,813.53 4,057.00

SUSAN CAMERON

Not quantified

SW CARPENTRY & JOINERY/WILSON, SIMON PETER

2 SEA EAGLE CRESCENT, SEAFORD RISE, SA, 5169

TELSTRA

GPO BOX 9901, MELBOURNE, SA, 8101

TELSTRA

GPO BOX 9901, MELBOURNE VIC3000

TERLET, SHANE

6,270.44 6,647.26 Not quantified Not quantified

TERMI HOME & COMMERCIAL

PO BOX 85, GOODWOOD, SA, 5034

TIMBERWISE DESIGN PTY LTD/ PD AND SK ELMER FAMILY TRUST

25 KINGSWOOD AVENUE, ONKAPARINGA HILLS, SA, 5163

TIMCO PTY LTD

172 PARK TERRACE, SALISBURY PLAINS, SA, 5109

TOPSTAIRS AND STAFF PTY LTD

PO BOX 154, HINDMARSH, SA, 5007

TOSER DESIGN PTY LTD

PO BOX 278, LONSDALE, SA, 5160

TRADE CONNECTIONS PROPERTY MAINTENANCE

PO BOX 6048, LINDEN PARK, SA, 5065

TRADELINK PTY LIMITED (CRANE DISTRIBUTION LTD)

LOCKED BAG 1111, VIRGINIA BUSINESS CENTRE, QLD, 4014

TREATRITE CLEANING SERVICES/STILER INDUSTRIES P/L

PO BOX 568, KENSINGTON PARK, SA, 5068

TRUSSTECH SA PTY LTD

16 HIGH ST, DRY CREEK, SA, 5094

TURNBULL, MANDY

29,353.50 4,049.99 95,511.78 7,370.00 84,813.62 8,003.92 324.15 2,305.00 20,664.44 Not quantified

TUTTLE, HELEN LENORE UNITEX SA

100.10

Not quantified 20 CARDIFF COURT, CAVAN, SA, 5094

URIM & STELLIANE HALILAJ

1,716.68 25,034.97

WAYNE QUINE

Not quantified

WELDMET FABRICATIONS PTY LTD/LEPKA SETTLEMENTS TRUST

UNIT 2, 2 FERRY AVENUE, MELROSE PARK, SA, 5039

WILSON COLMAN & CO PTY LTD

1294 NORTH EAST ROAD, TEA TREE GULLY, SA, 5091

WINGFIELD TIMBER SUPPLIES

79 CAVAN ROAD, GEPPS CROSS, SA, 5094

WM BUILDING - WAYNE MALONEY

61 GAWLER STREET, PORT NOARLUNGA, SA, 5167

44,165.00 5,467.00 27,188.21 4,071.49

Homestead Homes Pty Ltd (In Liquidation) ACN 008 011 041 General Information for Attending and Voting at Meetings of Creditors Time and Place of Meeting Pursuant to Corporations Regulation (“Regulation”) 5.6.14 a meeting of creditors must be convened at a time and place most convenient for the majority of creditors entitled to receive notice of the meeting. Quorum 

Pursuant to Regulation 5.6.16 a meeting must not act for any purpose except:



the election of a chairperson; and



the proving of debts; and



the adjournment of the meeting:

unless a quorum is present. 

A quorum is deemed to be present if at least 2 (two) creditors are present at the meeting in person, by proxy, by power of attorney or participating by telephone.



A meeting is sufficiently constituted if only one person is present in person if the person represents personally or by proxy or otherwise a number of persons sufficient to constitute a quorum.

Chairperson Pursuant to Section 497(8) of the Corporations Act 2001, the creditors may appoint one of their number or the director who attends the meeting as Chairperson of the meeting. Voting 

Pursuant to Regulation 5.6.23 creditors will not be eligible to vote at the meeting unless they have lodged particulars of their debt or claim prior to or at the meeting.



Accordingly, creditors who intend to vote at the meeting should ensure that they lodge a formal proof of debt with the company prior to or at the meeting.



Pursuant to Regulation 5.6.19 all resolutions put to the meeting will be decided on the voices unless a poll is demanded, before or on the declaration of the result of the voices. A poll may be demanded by:



the chairperson; or



at least 2 (two) persons present in person, by proxy, by power of attorney or participating by telephone and entitled to vote at the meeting; or



a person present in person, by proxy, by power of attorney or participating by telephone and representing not less than 10% of the total voting rights of all persons entitled to vote at the meeting. 1



Pursuant to Regulation 5.6.21, should a poll be demanded:



a resolution will be carried if a majority in number and a majority in value vote in favour of the resolution; and



a resolution will be lost if a majority in number and a majority in value vote against the proposed resolution.

In the event of a deadlock, the chairperson may exercise a casting vote. In such situations, the minutes of the meeting must specify the chairperson’s reasons for exercising, or not exercising, their casting vote. Proxies 

Pursuant to Regulation 5.6.28 creditors who are entitled to attend and vote at the meeting may appoint a natural person over the age of 18 years as their proxy to attend and vote at the meeting on their behalf. Accordingly, creditors who are unable to attend the meeting but who wish to be represented should ensure that a validly executed proxy form is lodged with the company prior to or at the meeting.



Pursuant to Regulations 5.6.28 and 5.6.36A creditors may lodge a facsimile copy of a proxy form with the company prior to the meeting, however, the original of the instrument must be received by the company within 72 hours of receipt of the faxed copy.



Pursuant to Regulations 5.6.28, 5.6.29 and 5.6.31 creditors may lodge a proxy form with the company prior to the meeting by electronic means, however electronic lodgement will only be possible where the convenor has specified an electronic address or other electronic means on the proxy form. Proxy forms lodged via electronic means must be validly executed by signing and scanning the form.



Pursuant to Regulation 5.6.32 a person may, should they so desire, appoint the Chairperson by name or by reference to his or her office to act as his, her or its general or special proxy.



Pursuant to Regulation 5.6.33 special proxies, but not general proxies, can be used to vote in favour of any resolution that would directly or indirectly place the holder of the proxy (or any partner or employee of that person) in a position to receive any remuneration out of the assets of the company, except as an ordinary unsecured creditor.

Corporate Creditors Corporate creditors who wish to attend the meeting should note that they may only be represented by an individual if that person is validly granted a proxy or power of attorney by that corporation. Alternatively, Section 250D of the Corporations Act 2001 provides that a corporation may, by resolution of its board, provide a standing authority for a specified person to represent the corporation at specified meetings of creditors. A copy of any such resolution should be provided to the company prior to or at the meeting.

2

Committee of Inspection Pursuant to Section 548 of the Corporations Act 2001, a person may only serve as a member of a Committee of Inspection if the person is: 

a creditor or contributory of the company personally; or



the attorney of a creditor or contributory under a general power of attorney; or



authorised in writing by a creditor or contributory.

Corporate creditors who are members of a Committee of Inspection may be represented by: 

an officer or employee of the member; or



an individual authorised in writing by the member to represent the member on the committee.

3

Australian Company Number: 008 011 041 FORM 535 Subregulation 5.6.49(2)

Corporations Act (2001) FORMAL PROOF OF DEBT OR CLAIM (GENERAL FORM) To the Liquidators of Homestead Homes Pty Ltd (In Liquidation) 1.

This is to state that the company was on 17 October 2016 (date of court order in winding up by the Court, or date of

resolution to wind up, if a voluntary winding up), and still is, justly and truly indebted to: _____________________________________________________________________________________________________________________

(full name and address of the creditor and, if applicable, the creditor's partners. If prepared by an employee or agent

of

the

creditor,

also

insert

a

description

of

the

occupation

of

the

creditor)

for

$_______________and______cents. Date

Consideration (state how the

Amount

Debt arose)

2.

$

c

Remarks (include details of voucher substantiating payment

To my knowledge or belief the creditor has not, nor has any person by the creditor's order, had or received any satisfaction or security for the sum or any part of it except for the following: (insert particulars of all securities held. If the securities are

on the property of the company, assess the value of those securities. If any bills or other negotiable securities are held, show them in a schedule in the following form). Date

*3.

Drawer

Acceptor

Amount $c

Due Date

I am employed by the creditor and authorised in writing by the creditor to make this statement. I know that the debt was incurred for the consideration stated and that the debt, to the best of my knowledge and belief, remains unpaid and unsatisfied; OR

*3.

I am the creditor's agent authorised in writing to make this statement in writing. I know that the debt was incurred for the consideration stated and that the debt, to the best of my knowledge and belief, remains unpaid and unsatisfied.

........................................... Signature Occupation: Address

*Strike out this section if this proof is made by the creditor personally.

Dated

Proofs of Debt Notes for your guidance (Please read carefully before filling in Form 535 or Form 536) It is a creditor’s responsibility to prove their claim to our satisfaction. When lodging claims, creditors must ensure that: a)

the proof of debt form is properly completed in every particular; and

b)

evidence, such as that detailed below, is attached to the Form 535 or Form 536.

Directions for completion of a Proof of Debt 1.

Insert the full name and address of the creditor.

2.

Under “Consideration” state how the debt arose, for example “goods sold to the company on …………….…..”.

3.

Under “Remarks” include details of any documents that substantiate the debt (refer to the section titled “Information to support your claim” below for further information).

4.

Where the space provided for a particular purpose is insufficient to contain all the required information in relation to a particular item, that information should be set out in an annexure.

5.

An annexure to the form must have an identifying mark and be endorsed with the words: “This is the annexure of …… pages marked …… referred to in the Form 535/536 signed by me and dated …………………

…………………………………… Signature(s)

…………………………………………………….. Name of Signatory “IN BLOCK LETTERS”

and signed by each person signing the form to which the document is annexed. 6.

The pages in the annexure must be numbered consecutively.

7.

Where a document, copy of a document or other matter is annexed to a form, reference made in the form to the annexure shall be by its identifying mark, the number of pages in it, and a brief description of the nature of the document and its contents.

8.

A reference to an annexure includes a document, copy of a document or any other matter accompanying, attaching to or annexed to a form.

Information to support your claim Please note that your debt is not likely to be accepted unless evidence to support its existence is provided. Detailed below are some examples of the type of debt creditors may be claiming and a suggested list of documents, copies of which should accompany a proof of debt for that class of creditor. Trade Creditors 

Statements and supporting invoices(s) showing the amount of the debt; and



Advice(s) to pay outstanding invoice(s) (optional).

Guarantees/Indemnities 

Executed guarantee/indemnity; 1



Notice of Demand served on the guarantor; and



Calculation of the amount outstanding under the guarantee.

Judgment Debt 

Copy of the judgment; and



Documents/details to support the underlying debt as per other categories.

Deficiencies on Secured Debt 

Security Documents (eg. mortgage);



Independent valuation of the secured portion of the debt (if not yet realised) or the basis of the creditor’s estimated value of the security;



Calculation of the deficiency on the security; and



Details of income earned and expenses incurred by the secured creditor in respect of the secured asset since the date of appointment.

Loans (Bank and Personal) 

Executed loan agreement; and



Loan statements showing payments made, interest accruing and the amount outstanding as at the date of appointment.

Tax Debts 

Documentation that shows the assessment of debts, whether it is an actual debt or an estimate, and separate amounts for the primary debt and any penalties.

Employee Debts 

Basis of calculation of the debt;



Type of Claim (eg. wages, holiday pay, etc);



Correspondence relating to the debt being claimed; and



Contract of Employment (if any).

Leases 

Copy of the lease; and



Statement showing amounts outstanding under the lease, differentiating between amounts outstanding at the date of the appointment and any future monies.

2

FORM 532 Corporations Act 2001 Regulation 5.6.29

Homestead Homes Pty Ltd ACN 008 011 041 (In Liquidation) (the Company”) APPOINTMENT OF PROXY I/We (1) __________________________________________________________________________________________________________________ of

_______________________________________________________________________________________________________________________________

a creditor/member of Homestead Homes Pty Ltd (In Liquidation) appoint

(2)______________________________________________________________________________________________________ or in his/her absence __________________________________________________________________________________________________________ as my/our general proxy to vote at the meeting of creditors to be held on 4 November 2016 at 9:00AM or at any adjournment of that meeting.

DATED this ___________ day of ________________________ 2016

(3) Signature ___________________________________

CERTIFICATE OF WITNESS - only complete if the person given the proxy is blind or incapable of writing.

I, ________________________________________________ of ________________________________________________________________________ certify that the above instrument appointing a proxy was completed by me in the presence of and at the request of the person appointing the proxy and read to him before he attached his signature or mark to the instrument.

DATED this ___________ day of ________________________ 2016

Signature of witness

___________________________________

Description

___________________________________

Place of residence

___________________________________ ___________________________________

Notes: (1) (2) (3)

If a firm strike out "I" and set out the full name of the firm. Insert the name of the person appointed. If the creditor is a sole trader , sign in accordance with the following example: “A.B., proprietor”. If the creditor is a partnership, sign in accordance with the following example: “A.B., a partner of the said firm.” If the creditor is a company, then the form of proxy must be under its Common Seal or under the hand of some officer duly authorised in that capacity, and the fact that the officer is so authorised must be stated in accordance with the following example: “for the company, A.B.” (duly authorised under the Seal of the Company).

Proxy forms should have been completed and returned by no later than 4:00PM (ACDT) on 3 November 2016 to be eligible to vote at the meeting. RETURN TO: Phone: Fax:

Homestead Homes Pty Ltd (In Liquidation) C/- McGrathNicol, GPO Box 9986, Adelaide SA 5001 +61 8 8468 3700 +61 8 8468 3799

Proxy Notes for your Guidance 

Insert full name and address of creditor, contributory or member on the top line.



On the second line, insert the name of the person you appoint as your proxy. You may insert “the Chairperson of the meeting” if you wish.



On the next line insert the organisation the proxy holder represents or works for (not required if the Chairperson is your proxy).



You may appoint an alternate proxy on the fourth line who may act if your first appointed proxy cannot attend the meeting. You may insert “the Chairperson of the meeting” if you wish.



If the proxy is a general proxy the form requires no addition.



If the proxy is a special proxy the form must include instructions regarding the use of the proxy (i.e. details of the resolution and whether the proxy holder is to cast a vote in favour or against the resolution or abstain from voting).



Date and sign the Proxy form using one of the following various forms of execution: 

Sole Trader

-

Sign the proxy yourself.



Partnership

-

e.g. sign – “Smith & Associates Per John Smith - Partner”



Company

-

(i) By a director or secretary, e.g. “J Smith – Director”. (ii) By a person duly authorised to sign on behalf of the company, e.g. “Smith & Sons Pty Ltd. ACN: ______________ Per: J Smith A person duly authorised to sign on the company’s behalf”. OR

“Smith & Sons Pty Ltd. ACN: ______________ By its duly constituted attorney J Smith”. NB: If signing on behalf of a company the following example is not sufficient: ”Smith & Sons Pty Ltd. ACN: _______________ Per: J Smith” 

“Certificate of Witness” is only to be used where the Proxy is being completed on behalf of a person who is blind or incapable of writing. In all other cases a witness to the signature of the person appointing the Proxy is not required and you may ignore the section headed “Certificate of Witness”.

1

Homestead Homes Pty Ltd (In Liquidation) ACN 008 011 041 Liquidators’ remuneration report to creditors 27 October 2016

1

Liquidators’ remuneration

Liquidators’ remuneration can only be fixed by resolution of a committee of inspection, the company’s creditors or by application to the Court. In accordance with Section 449 of the Act and the ARITA Code of Professional Practice, a Schedule of Remuneration Methods and Hourly Rates has been attached for creditors’ reference. In this section, the Liquidators outline the work undertaken by the Liquidators and their staff for the period from the commencement of the liquidation to 24 October 2016. The Liquidators intend to seek creditor approval of their remuneration totalling $70,134.54 incurred during the period from the commencement of the liquidation to 24 October 2016 at the upcoming meeting of creditors.

1.1

Declaration

We, Matthew Caddy and Barry Kogan of McGrathNicol, have undertaken a proper assessment of this remuneration claim for our appointment as Liquidators of Homestead Homes Pty Ltd in accordance with the law and applicable professional standards. We are satisfied that the remuneration claimed is in respect of necessary work, properly performed, or to be properly performed, in the conduct of the Liquidation.

1.2

Summary

To date no remuneration has been approved or paid in this liquidation. This remuneration report details approval sought for the following fees: Period

Report reference

Amount (ex GST)

Remuneration approval sought: Resolution 1: 17 October 2016 – 24 October 2016 (actual)

1.3

$70,134.54

Resolution 2: From 25 October 2016 onwards

1.4

$100,000.00

Total actual and estimated Liquidators remuneration*

$170,134.54

* Approval for the future remuneration sought is based on an estimate of the work necessary to perform the Liquidators’ duties. If additional work is necessary beyond what is contemplated, a further report will be provided and approval sought from creditors. If the work undertaken is less than the estimated amount, the lesser amount will be paid. Please refer to the report section references detailed in the above table for full details of the calculation and composition of the remuneration approval sought.

1

1.3

Remuneration incurred from date of appointment to 24 October 2016 (actual)

The following resolution will be proposed at the meeting of creditors convened for 4 November 2016:

“That the remuneration of the Liquidators, their partners and staff, for the period from 17 October 2016 to 24 October 2016, calculated on hours spent at the rates detailed in the Schedule of Remuneration Methods and Hourly Rates provided to creditors, in the amount of $70,134.54 (exclusive of GST), is hereby approved for payment.” A description of tasks performed is set out below and a schedule of fees during this remuneration period is detailed at Appendix A of this report.

General description

Task area

Asset realisation

Assets

22.4 hours $9,385.21 (ex GST)

Employees

Employee entitlements / queries

16.9 hours $7,179.50 (ex GST)

Payroll

Creditors 22.1 hours $9,709.36 (ex GST)

Meetings

Includes 

Identifying assets.



Securing assets.



Preparing and reviewing display home listing.



Conducting and reviewing asset searches.



Meetings with Management in relation to assets.



Reviewing leased assets schedule, lease agreements and documentation.



Preparing and issuing lease disclaimer letters.



Addressing employees on Day 1 regarding appointment.



Preparing and issuing termination letters.



Preparing and issuing retention letters.



Liaising with Management regarding employee entitlements.



Liaising with FEG.



Reviewing books and records to consider what information is available to the Liquidators.



Reviewing and responding to various employee queries by telephone, email and in person.



Collating employee contracts.



Considering whether contractors may be deemed to be employees.



Liaising with payroll provider to ensure payroll is processed for retained employees.



Liaising with staff regarding timesheets.



Reviewing timesheets.



Preparing payroll for week ending 24 October 2016.



Preparing and reviewing meeting materials for first meeting of creditors.



Organising meeting logistics including booking venue.



Compiling and reviewing creditors’ listings.

2

General description

Task area Secured creditors

Unsecured creditors

PPSR

Closure of business

Closure of business

10.6 hours $5,035.50 (ex GST)

Sale of business 8.1 hours $4,094.17 (ex GST)

General administration 88.5 hours $34,730.80 (ex GST)

Sale of business

Statutory 4.0 hours $1,251.88 (ex GST)

Includes 

Liaising with secured creditors regarding various matters.



Undertaking analysis for secured lender.



Negotiating and reviewing secured lender funding deed.



Liaising with legal advisors in relation to funding deed.



Issuing circular to creditors.



Compiling unsecured creditor analysis.



Liaising with unsecured creditors.



Reviewing and analysing PPSR registrations.



Communicating with each party claiming a security interest.



Dealing with PPSR claims.



Internal meetings regarding shutdown requirements.



Preparing circular to customers.



Attending to customer queries.



Liaising with landlords.



Liaising with key suppliers, including utility providers.



Organising mail redirections.



Internal meetings regarding sale strategy.



Preparing sale advertisement.



Obtaining and reviewing information regarding preappointment sale process.



Preparing and reviewing interested party register.



Preparing, compiling, reviewing and issuing sale materials and data pack.



Liaising with interested parties.



Preparing and lodging statutory forms including Form 505 (appointment), Form 525 and Form 5011.



Reviewing and issuing RATA pack to Director.



Preparing Liquidators’ DIRRI.



Notifying the ATO of Liquidators’ appointment and registration for GST and PAYG.



Preparing and issuing notifications to statutory bodies of Liquidators’ appointment.



Lodging notifications of lease disclaimers with ASIC.

3

General description

Task area

Includes

Strategy and administration



Determining project strategy.



Internal meetings on strategy and actions required.

12.7 hours $5,768.07 (ex GST)



Meetings with Management and Director.



Liaising with legal advisor.



Reviewing media statement.



Reviewing media enquiries and liaising with media advisor.



File maintenance and managing correspondence.



Maintaining checklists and task lists.



Collecting documentation.



Opening Liquidators’ bank account.



Issuing notification of appointment to banks.



Dealing with bank administration issues.



Notifying insurance broker of appointment.



Liaising with insurance broker regarding various queries.



Liaising with Management regarding insurance policies.



Considering strategy regarding building indemnity insurers.



Liaising with state based home indemnity insurers.



Preparing for and attending insurance meeting with QBE regarding home indemnity insurance and Liquidators’ ongoing strategy.



Reviewing insurance policy documents.



Liaising with insurance broker and legal advisors regarding potential claims.



Undertaking forensic imaging of electronic books and records.



Locating books and records.



Reviewing books and records.



Archiving books and records.

Banking 0.9 hours $198.86 (ex GST) Insurance 1.8 hours $840.71 (ex GST)

Books and records 69.1 hours $26,671.29 (ex GST)

4

1.4

Future works to be completed - Liquidation

At the meeting of creditors, the Liquidators will put a resolution to creditors for approval of prospective Liquidators’ fees capped to $100,000.00 (excluding GST) for the period from 25 October 2016 onwards (as described in the resolution below). Creditors should note that the proposed liquidation fees are in addition to the fees outlined in section 1.3. The following resolution will be proposed at the meeting of creditors convened for 4 November 2016:

“That the prospective remuneration of the Liquidators, to the maximum amount of $100,000.00 (excluding GST), calculated on hours spent at the rates detailed in the Schedule of Remuneration Methods and Hourly Rates provided to creditors, for the period from 25 October 2016 until the work undertaken in the estimation of remuneration is complete, or the time charges for work undertaken exceeds the capped fee amount (whichever occurs first). Creditors acknowledge that if actual costs incurred are below the amount approved, the Liquidators are only authorised to draw the amount incurred. Creditors also acknowledge that if actual costs incurred exceed the amount approved, the Liquidators will seek further approval from creditors. The Liquidators are approved to draw their remuneration as and when it is incurred from funds under their control.” The estimate of work to be done by the Liquidators and their staff is set out in the table below.

Task area

General description

Asset realisation

Assets

Employees

Closure of business

Employee entitlements and FEG

Customers

Includes 

Liaise with secured creditors to agree strategy for realisation of display homes.



Conduct a sale process to realise owned display homes.



Arrange for sale of office furniture and equipment with auctioneers and obtain proceeds.



Correspondence with debtors via phone and email to confirm and agree payments.



Maintain debtor collections schedule.



Consider recovery actions for non-payment by debtors.



Correspondence with employees to finalise schedule of employee entitlements.



Review sales commission arrangements with various employees and/or contractors.



Correspondence with FEG.



Preparing notification sheets and reports to FEG.



Liaise with FEG regarding payment of entitlements to employees.



Prepare and issue payment summaries to employees.



Liaise with and update employees regarding the progress of the liquidation.



Recording employee information in MYOB.



Liaise with insurers regarding handover of key construction and other home building related documents.



Liaise with customers regarding specific issues relevant to each customer.

5

Task area

General description Other

Sale of business

Investigations

Creditors

Sale of business

Assessment

Creditor enquiries

Secured creditors

Includes 

Manage exit of leased office premises, including securing and transferring all company records offsite.



Transfer or disclaim leases for display homes, depending upon outcome of sale process.



Liaise with interested parties via phone and email regarding offers to purchase certain assets of the company.



Assess offers received from interested parties and determine appropriate realisation strategy.



Complete sale contract with purchaser(s) (if applicable).



Reconstruct profit and loss position to assess potential date of insolvency.



Consider any potential insolvent trading claims against Director.



Prepare and finalise Liquidator report to ASIC under s533 of the Act.



Review and consider the manner in which the company officers discharged their fiduciary duties.



If required, commence proceedings against company officers for failure to discharge fiduciary duties.



Consider any potential voidable transactions.



Consider any additional information made available to the Liquidators following the meeting of creditors.



Liaise with creditors regarding claims and submission of POD’s.



Provide creditors with updates regarding the Liquidation generally.



Reviewing and preparing correspondence to creditors and their representatives via email and post.



Liaise with secured creditor regarding sale of assets, including owned display homes.

6

Task area

General description Meeting of Creditors

General administration

Statutory

Strategy and admin

Banking

Insurance

Books and records

Includes 

Preparing for and attending the meeting of creditors, including preparing the meeting circular, notices, proxies, and advertisements.



Forwarding notice of creditors meeting to all known creditors.



Book meeting room and set-up teleconference details for meeting of creditors.



Preparing meeting file including Chairman’s notes, agenda, certificate of postage, attendance register, list of creditors, and advertisement of meeting.



Convening the meeting of creditors to be held on 4 November 2016.



Prepare and record minutes of meeting and lodge same with ASIC.



Liaise with ATO and ASIC.



Prepare and submit quarterly BAS returns.



Prepare and submit six monthly returns to ASIC.



Maintain project checklists.



Attending internal discussions and planning in relation to the liquidation.



Discussions with company officers and employees with respect to the liquidation, including responding to queries.



Filing of documents and file management.



Updating checklists.



Monitoring cash position.



Preparing and authorising receipt and payment vouchers.



Prepare and review of bank reconciliations.



Arrange for insurance policies for company assets.



Liaise with insurance broker to determine if a notification of should be made under the D&O policy.



Provide wages declaration for Workers Compensation insurance.



Arrange for storage of books and records.

7

APPENDIX A: Liquidators’ schedule of actual remuneration to 24 October 2016

Homestead Homes Pty Ltd (In Liquidation) - Fees General administration Position

Asset Rate ($/hour) Total hours Total fees $ realisation Employees

Creditors

Closure of business

Sale of business

Statutory

Strategy & admin

931.67

243.75

325.00

-

55.71

-

178.50

348.50

-

595.00

-

18.75

3,100.00

-

78.57

Partner

650

7.9

5,129.27

195.00

195.00

1,662.14

1,521.00

Director 1

595

7.4

4,428.50

952.00

357.00

1,164.50

833.00

Senior Manager

500

43.8

21,892.32

4,978.57

2,140.00

3,657.14

680.00

Manager

475

7.2

3,410.67

-

190.00

298.57

-

-

Assistant Manager

430

22.5

9,662.71

-

2,150.00

2,021.00

-

-

Senior Accountant

375

49.2

18,450.00

2,212.50

1,987.50

112.50

1,875.00

150.00

Accountant

275

19.6

5,403.06

738.57

137.50

126.50

137.50

Undergraduate

190

0.6

114.00

Administration

160

Total (ex GST)

-

-

-

10.3

1,644.00

308.57

160.00

656.00

168.5

70,134.54

9,385.21

7,179.50

9,709.36

5,035.50

2,875.00

4,094.17

255.31

-

-

79.86

-

1,837.50

271.56 -

58.93 -

Banking

54.29 12.29

Insurance

24.57

Books & records

4,364.29 2,612.50 5,375.00

-

-

10,275.00

-

-

3,932.50

114.00

-

-

284.00

18.29

18.29

86.86

112.00

1,251.88

5,768.07

198.86

840.71

26,671.29

8

Schedule of Remuneration Methods and Hourly Rates 1

Introduction This information is to assist you with understanding how remuneration is calculated and paid in an insolvency administration.

2

Basis of remuneration

2.1

Remuneration methods There are four basic methods that can be used to calculate the remuneration charged by an insolvency practitioner. They are: 

Time based/hourly rates

This is the most common method. The total fee charged is based on the hourly rate charged for each person who carried out the work, multiplied by the number of hours spent by each person on each of the tasks performed. 

Fixed Fee

The total fee charged is normally quoted at the commencement of the liquidation and is the total cost for the liquidation. Sometimes a practitioner will finalise a liquidation for a fixed fee. 

Percentage

The total fee charged is based on a percentage of a particular variable, such as the gross proceeds of asset realisations. 

Contingency

The practitioners’ fee is structured to be contingent on a particular outcome being achieved. 2.2

Method Proposed We propose that our remuneration will be calculated on a time basis which will be recorded and charged in six minute increments. Details of the hourly rates for different levels of staff are included below. The complexity and demands of the liquidation will determine the staff to be utilised for this appointment. This method is considered to be most suitable for this appointment as it ensures creditors are only charged for work that is performed in the liquidation, which can be difficult to accurately estimate at the date of appointment. Creditors will be advised of the proposed basis of remuneration in our initial remuneration advice to them.

3

Explanation of Hourly Rates The rates for our remuneration calculation are set out in the following table, together with a general guide showing the qualifications and experience of staff engaged in the liquidation and the role they take in the liquidation. The hourly rates charged encompass the total cost of providing professional services and should not be compared to an hourly wage.

1

Hourly rate (excl GST)

Title

Guide to qualifications and role

Appointee/Partner

Registered liquidator, Chartered Accountant or equivalent and generally degree qualified with more than twelve years of experience. Leads assignments with full accountability for strategy and execution.

$650

Director 1

Generally, Chartered Accountant or comparable qualification and degree qualified with more than ten years of experience, including four years of Director or equivalent experience. Autonomously leads complex insolvency appointments reporting to Appointee/Partner.

$595

Director

Generally, Chartered Accountant or comparable relevant qualification and degree qualified with more than nine years of experience. Autonomously leads insolvency appointments reporting to Appointee/Partner.

$550

Senior Manager

Generally, Chartered Accountant or comparable relevant qualification and degree qualified with more than seven years of experience. Self-sufficiently conducts small to medium insolvency appointments and leads major workstreams in larger matters.

$500

Manager 1

Generally, Chartered Accountant or comparable relevant qualification and degree qualified with more than six years of experience, including two years of Manager 2 or equivalent experience. Self-sufficiently conducts small to medium insolvency appointments and takes a supervisory role on workstreams in larger matters.

$490

Manager

Generally, Chartered Accountant or comparable relevant qualification and degree qualified with more than five years of experience. Self-sufficiently conducts small insolvency appointments and takes a supervisory role on workstreams in larger matters.

$475

Assistant Manager

Generally, Chartered Accountant or comparable relevant qualification and degree qualified with more than three years of experience. Autonomously manages workstream activity within appointments.

$430

Senior Accountant 1

Generally, degree qualified and undertaking Chartered Accountant’s qualification or comparable relevant qualification with more than two years of experience, including one year of Senior Accountant or equivalent experience. Completes multiple tasks within workstreams and appointments.

$395

Senior Accountant

Generally, degree qualified and undertaking Chartered Accountant’s qualification or comparable relevant qualification with more than 16 months of experience. Completes tasks within workstreams and appointments under supervision.

$375

2

Hourly rate (excl GST)

Title

Guide to qualifications and role

Accountant 1

Generally, degree qualified and undertaking Chartered Accountant’s qualification or comparable relevant qualification with at least one year of Accountant or equivalent experience. Assists with tasks within workstreams and appointments under supervision.

$325

Accountant

Generally, degree qualified and undertaking or about to undertake Chartered Accountant’s qualification or comparable relevant qualification with less than one year of experience. Assists with tasks within workstreams and appointments under supervision.

$275

Undergraduate/ Cadet

Undertaking relevant degree. Assists with tasks within workstreams and appointments under supervision.

$190

Practice Services Director

National Practice Service leaders, generally degree qualified with more than ten years of experience and reporting directly to partners. Technical experts in their specific areas and have team management responsibilities.

$580

Senior Practice Services

Senior technical, professional or functional expert in national Practice Services. Generally degree qualified with more than seven years of experience. Reports to Practice Service leader and may be responsible for team management.

$410

Senior Client Administration and Senior Treasury

Appropriately experienced and undertakes senior level administrative support activities or senior Treasury activities. May be responsible for day to day management of projects or operations and may have supervisory responsibility for junior staff.

$210

Client Administration and Treasury

Appropriately experienced and undertakes support activities, including but not limited to Client administration, Treasury and document management functions.

$160

McGrathNicol reviews its hourly rates six monthly. The hourly rates quoted above remain in force until 31 December or 30 June (whichever occurs first) and McGrathNicol may increase fees for work continuing past that date. Creditors will be advised of any change to the hourly rates for this liquidation.

3

4

Disbursements There are three categories of disbursements which may be charged: 

Externally provided professional services – these are on-charged at cost. An example of an externally provided professional service disbursement is legal fees.



Externally provided non-professional costs – such as travel, accommodation, external printing services and search fees – these are on-charged at cost.



Internal disbursements – such as photocopying, printing and postage. These disbursements are generally charged at cost but may include, in the case of disbursements such as such as telephone calls, photocopying and printing, both direct variable and fixed costs. For example the rate per page for printing includes a reasonable and commercial allowance for paper, toner, depreciation, power and maintenance).

Creditor approval is not required for disbursements. However, details of the basis of recovering internal disbursements in this liquidation are provided below and full details of actual costs incurred and to be charged to the liquidation will be provided in future reports. 4.1

Basis of Disbursement Claim

Internal Disbursements

Rate (Excl GST)

Advertising

At cost

Courier

At cost

Printing- black and white

$0.09 per page

Printing- Colour

$0.28 per page

Postage

At Cost

Stationery and other incidental disbursements

At Cost

Staff per diem travel allowance*

$89.00 per day

Staff vehicle use

$0.63 per km

Telephony – mobile, fixed line and conference calls

At cost

* Payable when partners or staff are required for business purposes to stay away from their usual place of residence overnight.

4

Declaration of Independence, Relevant Relationships and Indemnities

Home Australia Pty Ltd (In Liquidation) and its wholly owned subsidiaries as detailed in Schedule A (collectively “Home Australia”) The Corporations Act 2001 and professional standards require the Practitioners appointed to an insolvent entity to make a declaration as to: A.

their independence generally;

B.

relationships, including

C.

(i)

the circumstances of the appointment;

(ii)

any relationships with the company and others within the previous 24 months;

(iii)

any prior professional services for the company within the previous 24 months;

(iv)

that there are no other relationships to declare; and

any indemnities given or up-front payments made to the Practitioner.

This declaration is made in respect of ourselves, our partners and the firm McGrathNicol, which for the purpose of this declaration includes the McGrathNicol Partnership, the McGrathNicol Advisory Partnership, and McGrathNicol Services Pty Limited. A.

Independence

We, Matthew Caddy and Barry Kogan of the firm McGrathNicol (“the Liquidators”) have undertaken a proper assessment of the risks to our independence prior to accepting the appointment as liquidators of Home Australia in accordance with the law and applicable professional standards. This assessment identified no real or potential risks to our independence. We are not aware of any reasons that would prevent us from accepting this appointment. B.

Declaration of Relationships

(i)

Circumstances of appointment

On 25 August 2016, Matthew Caddy and David Barnaby of McGrathNicol met with the sole director of Home Australia entities (Robert Day) and the former interim CFO/COO with the intention of discussing the financial position of Home Australia. This meeting was adjourned following a brief introduction as its purpose was superseded by an immediate financing option to be further explored by the director. On 9 September 2016, the meeting between Matthew Caddy, the director and the former interim CFO/COO was reconvened to discuss the financial position of Home Australia. From 11 October 2016 until the date of appointment, Matthew Caddy had a number of phone calls with the director for the purposes of: 

obtaining sufficient information about Home Australia to understand its current financial position;



clarifying and explaining to Home Australia and the director the various options available to the companies and the nature and consequences of insolvency appointments; and



Matthew Caddy and Barry Kogan of McGrathNicol providing consents to act.

No remuneration was received for participating in these discussions and meetings. We believe that these meetings do not result in a conflict of interest or duty because: 

the Courts and ARITA’s Code of Professional Practice specifically recognise the need for practitioners to provide advice on the insolvency process and the options available and do not consider such advice results in a conflict or is an impediment to accepting the appointment;



the nature of the limited scope advice provide to the Home Australia is such that it would not be subject to review and challenge during the course of the liquidations; and



the pre-appointment advice will not influence our ability to be able to fully comply with the statutory and fiduciary obligations associated with the liquidations of Home Australia in an objective and impartial manner.

We have provided no other information or advice to Home Australia or Mr Day prior to our appointments beyond that outlined in this DIRRI. (ii)

Relevant Relationships (excluding professional services to the Insolvent)

We, or a member of our firm, have or have had within the preceding 24 months, a relationship with: Name

Nature of relationship

Reasons

National Australia Bank Limited (“nab”)

nab holds a charge on the whole or substantially the whole of the property of Home Australia.

We believe this relationship does not result in a conflict of interest or duty because each professional engagement undertaken for nab in relation to a particular entity or group of entities is conducted on an entirely separate basis which has no connection with these appointments.

McGrathNicol undertakes corporate recovery and advisory work from time to time on instructions from nab.

These engagements are only commenced after full regard is given to potential conflicts of interest in relation to all interested stakeholders. No work has been undertaken for nab in relation to any of the Home Australia companies. Given the above, our independence in acting as Liquidators of Home Australia has not been compromised.

(iii)

Prior professional services to the Insolvent

Neither we, nor our firm, have provided any professional services to Home Australia in the previous 24 months. (iv)

No other relevant relationships to disclose

There are no other known relevant relationships, including personal, business and professional relationships, from the previous 24 months with Home Australia, an associate of Home Australia, a former insolvency practitioner appointed to Home Australia or any person or entity that currently has security over the whole or substantially the whole of Home Australia’s property and should be disclosed. C.

Indemnities and Up-front Payments

We have not been indemnified in relation to the Home Australia liquidations, other than any indemnities that we may be entitled to under statute and we have not received any up-front payments in respect of our remuneration or disbursements. D.

Appointments to Members of a Corporate Group

As listed on Schedule A of this Declaration, the Liquidators have been appointed as liquidators to eight entities within the Home Australia group of companies. We are of the view that the appointment to the group of companies will have significant benefits to the conduct of the Liquidations, particularly in that this will provide for cost-savings and enable an accurate as possible view to be obtained of the activities and financial position of the companies as a whole. We are aware that there were intercompany transactions within the group. At the time of our appointment, we were not aware of any conflicts of interest between the group companies. Should such a conflict arise, we will keep creditors informed and take appropriate action to resolve the conflict. Dated: 27 October 2016

...................................................................... Matthew Caddy

.............................................................................. Barry Kogan

2

Schedule A: Home Australia – entities over which the Liquidators are appointed Company name

Corporate nature

ACN

Home Australia Pty Ltd

Parent

075 303 767

Ashford Homes Pty Ltd

Wholly owned subsidiary

009 217 976

Collier Homes Pty Ltd

Wholly owned subsidiary

008 681 454

Homestead Homes Pty Ltd

Wholly owned subsidiary

008 011 041

Huxley Homes Pty Ltd

Wholly owned subsidiary

106 443 216

Nationwide Australian Investments Pty Ltd

Wholly owned subsidiary

077 009 226

Newstart Homes (SE QLD) Pty Ltd

Wholly owned subsidiary

080 910 238

Smart Road Property Rentals Pty Ltd

Wholly owned subsidiary

008 038 024

Notes to the DIRRI: 1

If the circumstances change or new information is identified, we are required under the Corporations Act 2001 and the ARITA Code of Professional Practice to update this Declaration and provide a copy to the creditors/committee of creditors with our next communication, as well as table a copy of any replacement Declaration at the next meeting of the insolvent’s creditors/committee of creditors.

2

Any relationships, indemnities or up-front payments disclosed in the DIRRI must not be such that the Practitioner is no longer independent. The purpose of components B and C of the DIRRI is to disclose relationships that, while they do not result in the Practitioner having a conflict of interest or duty, ensure that creditors are aware of those relationships and understand why the Practitioner nevertheless remains independent.

Please note that the presentation of the above information is in accordance with the standard format suggested by ARITA.

3

Insolvency information for directors, employees, creditors and shareholders ASIC has 11 insolvency information sheets to assist you if you’re affected by a company’s insolvency and have little or no knowledge of what’s involved. These plain language information sheets give directors, employees, creditors and shareholders a basic understanding of the three most common company insolvency procedures—liquidation, voluntary administration and receivership. There is an information sheet on the independence of external administrators and one that explains the process for approving the fees of external administrators. A glossary of commonly used insolvency terms is also provided. The Insolvency Practitioners Association (IPA), the leading professional organisation in Australia for insolvency practitioners, endorses these publications and encourages its members to make their availability known to affected people.

List of information sheets •

INFO 41 Insolvency: a glossary of terms



INFO 74 Voluntary administration: a guide for creditors



INFO 75 Voluntary administration: a guide for employees



INFO 45 Liquidation: a guide for creditors



INFO 46 Liquidation: a guide for employees



INFO 54 Receivership: a guide for creditors



INFO 55 Receivership: a guide for employees



INFO 43 Insolvency: a guide for shareholders



INFO 42 Insolvency: a guide for directors



INFO 84 Independence of external administrators: a guide for creditors



INFO 85 Approving fees: a guide for creditors

Getting copies of the information sheets To get copies of the information sheets, visit ASIC’s website at www.asic.gov.au/insolvencyinfosheets. The information sheets are also available from the IPA website at www.ipaa.com.au. The IPA website also contains the IPA’s Code of Professional Practice for Insolvency Professionals, which applies to IPA members. Important note: The information sheets contain a summary of basic information on the topic. It is not a substitute for legal advice. Some provisions of the law referred to may have important exceptions or qualifications. These documents may not contain all of the information about the law or the exceptions and qualifications that are relevant to your circumstances. You will need a qualified professional adviser to take into account your particular circumstances and to tell you how the law applies to you. © Australian Securities & Investments Commission, December 2008 Page 1 of 1

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Homestead Homes Pty Ltd - McGrathNicol

27 October 2016 Homestead Homes Pty Ltd ACN 008 011 041 (In Liquidation) (“the Company”) Circular to Creditors I advise that Barry Kogan and I were ...

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