On 7 August 2008 the Federal Court in Canberra appointed Mr Frank Lo Pilato of RSM Bird Cameron as the liquidator of Narrama Multi Services Aboriginal Corporation following an application by the Registrar of Indigenous Corporations.
The corporation, based in Moruya NSW, was set up in 1993 to provide frail aged and disabled care facilities and services to Aboriginal people living on the NSW south coast.
During an examination conducted by the Registrar in March 2008 it was found that the corporation had poor record keeping, had failed to hold an annual general meeting and was trading while insolvent. The corporation’s financial management system was not up to date and the directors were not aware of its exact financial position.
Efforts to restore good financial order failed. After consulting the directors, the Registrar decided that the corporation should be wound up, according to the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act).
‘Trading while insolvent is a serious offence under the CATSI Act.’ the Registrar, Mr Anthony Beven said. ‘Directors of a corporation are legally obliged to closely monitor its financial position. They are the custodians of the corporation for members and creditors.’
Background
This corporation has been known by other names in the past.
- 30 June 1993—incorporated as Koorie Aged and Community Care Aboriginal Corporation
- 22 August 1997—changed its name to Coastal Housing Multi Services Aboriginal Corporation
- 15 April 2004—changed its name to Narrama Multi Services Aboriginal Corporation.
Contact:
Lisa Donnelly
02 6219 7611
14 August 2008
ORIC MR0809–04