Future of Indigenous entity in administration to be decided

THE future of an Indigenous entity in voluntary administration will be decided at a second meeting of creditors next week.

A second meeting of creditors will be held next week.

THE future of Indigenous entity Bigambul Ltd will be decided at a second meeting of creditors next week.

The entity, which is headquartered in King Scrub, was placed into voluntary administration on August 19 and is in the hands of Mackay Goodwin's Thyge Trafford-Jones and Domenic Calabretta.

According to minutes of the creditors meeting on August 28, a preliminary review "failed to identify any asset of the company".

A second meeting of creditors has been set down for September 22.

The meeting will receive a report from Mr Trafford-Jones about the business, property, affairs and financial circumstances o the company and his opinion as to whether the company execute a deed of company arrangement, whether the administration end, or whether it be placed into liquidation.

Minutes of the first creditors meeting said the Australian Taxation Office advised they did not presently have a claim in the administration, "however, they have identified various outstanding tax lodgements that if completed may give rise to a liability of the company".

So far, only one creditor, the Bigambul Native Title Aboriginal Corporation, is claiming $25,000 is owed to it.