The Registrar of Indigenous Corporations, Mr Anthony Beven, has placed Amundurrngu Mt Liebig Community Store (Aboriginal Corporation) under special administration. The action follows a request for assistance from all of the directors yesterday.
The corporation which was established in 1987 owns and operates the only community store in Mount Liebig, which is located about 325 kilometres west of Alice Springs. It sells food, fuel and general merchandise.
In recent times the corporation has experienced a number of trading difficulties. The corporation was in special administration from October 2009 to May 2010 after the corporation had traded at a loss and there were disputes among members and directors.
In 2009 the former special administrator commissioned a review of the store. It recommended operational changes and the appointment of a professional store management company. The members of the corporation did not support the appointment of a management company and retained their long-term store manager. (Refer to the Registrar’s media release MR 0910-31 issued on 31 May 2010)
Since May 2010 the Mt Liebig store has continued to experience difficult trading circumstances and its financial position has continued to deteriorate.
‘I have made this urgent appointment to ensure that the Mt Liebig store remains open and food security for the community of 110 people is guaranteed,’ said Mr Beven. ‘The special administrators will in the coming months report to me and the members on the long term future of the store.’
The directors of the corporation have agreed to appoint a store management company to assist in the running of the store.
Mr Austin Taylor and Mr Stuart Reid from the Darwin-based firm of Meertens Administrations Pty Ltd have been appointed as the joint and several special administrators.
The special administration will run for three months.
Background
Special administration is a special measure under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 that helps corporations to restore good health and return control to members as soon as possible. For more information please see ORIC’s fact sheet Special administrations: what members and directors should know available at www.oric.gov.au.
Media contact
Patricia Gibson
(02) 6146 4743
17 October 2012
ORIC MR1213-12
Special administrator
Austin Taylor and Stuart Reid
0417 806 532 or 0416 248 104
Email: ataylor@meertens.com.au or sreid@meertens.com.au