The Supreme Court of the Northern Territory today ordered the winding up of the Amundurrngu Mt Liebig Community Store (Aboriginal Corporation). Mr Nicholas Cooper of BRI Ferrier was appointed as liquidator.
The corporation was established in 1987 to own and operate the only community store in Mt Liebig, which lies about 325 kilometres west of Alice Springs and is home to 110 people.
The corporation’s store recently experienced financial difficulties and the Registrar of Indigenous Corporations, Mr Anthony Beven, placed the corporation under special administration on 16 October 2012. Mr Austin Taylor and Mr Stuart Reid from the Darwin-based firm of Meertens Administrations Pty Ltd were appointed as the joint and several special administrators.
The special administrators appointed Outback Stores as relief managers, kept the store open and developed a proposal to restructure the debts of the corporation.
The special administrators however were unable to secure any finance to support the debt restructuring proposal and applied to the court to wind up the corporation.
Mr Beven said, ‘All options were examined by the special administrators but at the end of the day the corporation had to be liquidated.’
The special administration ended upon the commencement of the liquidation.
Patricia Gibson (02) 6146 4743
10 January 2013