| Appointment of Voluntary Administrator | |
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ASX Release 020215
ASX Release
2 February 2015
Marion Energy Limited appoints Voluntary Administrator
Marion Energy Limited (voluntary administrator appointed)(ASX:MAE) announces that on Saturday 31 January 2015 (AEDT) the board resolved to appoint James Patrick Downey as voluntary administrator.
Mr Downey will shortly convene meetings of creditors of the Company in accordance with Part 5.3A of the Corporations Act 2001. One of the express objects of Part 5.3A is to provide for a company to be administered in a way that "maximises the chances of the company, or as much as possible of its business, continuing in existence…"
The board intends to propose for the consideration of the creditors a deed of company arrangement encompassing a moratorium pending the outcome of the Chapter 11 Bankruptcy process currently taking place in respect of the Company's wholly-‐owned US subsidiary, Marion Energy Inc.
The board believes that the appointment of a voluntary administrator at this time is the
best way to protect the interests of the creditors and shareholders of the Company. Enquiries should be directed to:
Mr Jim Downey
J P Downey & Co
Level 1, 22 William Street Melbourne VIC 3000
T: +61 3 9629 8687
E: [email protected]
Marion Energy Limited
Per:
Nick Stretch Company Secretary
Suite 802, 530 Little Collins St. Melbourne Victoria 3000 Australia
Marion Energy Limited
ABN 99 000 031 292
Tel: +61 3 9620 2223 Fax: +61 3 8692 9976 www.marionenergy.com.au
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Marion Energy
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CODE : MAE.AX |
ISIN : AU000000MAE0 |
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Marion Energy est une société de production minière basée en Australie. |