Special administration of Walmbaar Aboriginal Corporation extended

The Deputy Registrar of Indigenous Corporations, Mr Joe Mastrolembo, announced yesterday that the special administration of the Hopevale-based Registered Native Title Body Corporate (RNTBC), the Walmbaar Aboriginal Corporation RNTBC, has been extended until 31 May 2009.

Mr Gerry Mier and Mr Tony Jonsson from the Cairns-based firm of KPMG were appointed as the joint special administrators in September 2008. They were appointed because the Registrar was concerned that the corporation did not manage the register of members properly, did not conduct general meetings by the rules and there were doubts that directors had been properly appointed. There were also concerns about non-members attending meetings.

Mr Mastrolembo said that progress on this special administration has been delayed for several reasons, including an initial delay of more than two months for the handover of the corporation’s records to the special administrators. However, the special administrators are confident that the special administration is on course and that they expect to complete their work by 31 May 2009.

Background

Special administration is a process that helps corporations with any short-term financial, governance or structural difficulties. The aim is to return control of an improved corporation back to its members.

Only the Registrar has the power to place an Aboriginal and Torres Strait Islander corporation under special administration—it is a special measure under the Corporations (Aboriginal and Torres Strait Islander) Act 2006.

Contact:
Lisa Donnelly
02 6219 7611
1 April 2009
ORIC MR0809–21