Mr Anthony Beven, Registrar of Indigenous Corporations, has today announced the end of the special administration of Larrakia Nation Aboriginal Corporation (LNAC).
The Registrar placed LNAC under special administration on 6 June 2016 for an initial period of six months. Resolving the complex issues in a sensitive way required several extensions of the special administration.
The not‑for‑profit corporation is based in Darwin in the Northern Territory and delivers community services, homelessness support, including night patrol and Territory Connect, a ranger program, and runs activities to protect and promote Larrakia culture. The corporation was registered in 1998 and has over 580 members. Last year it had income of $7,177,000.
In April 2016 the former directors of LNAC advised the Registrar that the corporation was facing serious financial issues and requested the appointment of a special administrator to assist. With the support of the Northern Territory Government, the Indigenous Land Corporation (ILC) and the Department of the Prime Minister and Cabinet, the special administrators have been able to resolve the financial issues and return LNAC to solvency.
LNAC had to sell its office building in Coconut Grove to pay its creditors but will lease back part of the building to maintain its operational base.
The special administrators also reformed LNAC’s governance. The most important reform was moving from a family-based representational model for the board of directors to a skills-based board, including three independent directors. The new model recognises that LNAC is now a large, complex and diversified business with important historical and cultural objectives. The new member directors of LNAC are Pauline Baban, Jeanneen McLennan, Wayne Kurnoth and Richard Fejo. They will be supported by three highly respected independent directors, Allan McGill, Rob Kendrick and Anna Morgan.
‘LNAC has been representing the interests of Larrakia people for almost 20 years as well as assisting some of Darwin’s most disadvantaged people. It is an important part of Darwin’s community and economy,’ Mr Beven said. ‘It is pleasing to see that this important corporation will continue to deliver its important services for many years to come.’
The Registrar will provide governance training to the new directors and monitor the corporation’s performance over the next 12 months.
(02) 6146 4738
8 May 2017