The acting Deputy Registrar of Indigenous Corporations, Gerrit Wanganeen, has today placed the Many Rivers Regional Housing Management Services Aboriginal Corporation (Many Rivers) under special administration.
Many Rivers was established in 2008 and is located in Kempsey, New South Wales. It manages over 500 rental properties primarily in the Macleay Valley area. The corporation is a registered Aboriginal community housing provider under the NSW Aboriginal Housing Office’s Provider Assessment and Registration System.
‘Serious concerns about the performance and viability of the corporation have been raised with our office,’ said Mr Wanganeen. ‘Our examination revealed poor standards of corporate governance with potential to harm the quality of services provided to the Aboriginal community.
‘When asked to show cause about the appointment of a special administrator, the directors agreed that current management practices were placing the provision of essential services at risk and asked for specialist assistance to rectify the situation.’
Mr Danny Keep from Business & Community Pty Ltd has been appointed as the special administrator until 12 October 2018.
‘The special administrator will work to re-engage members, strengthen governance and restore stakeholder confidence in Many Rivers’ operations so that it can continue providing this vital service to the community,’ Mr Wanganeen said.
Special administration is a unique measure under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 which helps corporations to fix their problems. The aim of the process is to restore a corporation to good health and once this is achieved to return control to members as soon as possible.
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13 April 2018