LIQUIDATOR'S FIRST REPORT Section 255 Companies Act 1993 Infratech Mining Limited (in Liquidation) Introduction Infratech Mining Limited was placed into liquidation in the High Court on 26 June 2015. The Official Assignee was appointed liquidator. Estate details Company name: Infratech Mining Limited Insolvency number: 874248 Director(s): COTTLE, Robert Shareholder(s): Alison MARTIN Brian COLLINS Carol MCLEAN Christine ROBB Conan James Montrose KENNARD and Sheila KENNARD (Jointly) EA & WFK PACHTER Jointly Helen LOVEDAY Jan NEWTON Joanna COLLINS John CLEARY John LOVEDAY Joshua AUDIER Juan Guillermo BERNAL Lindsay NEWTON Lyn MCKEOWN & Roslyn MCKEOWN (Jointly) Lynden OVER Martin AUDIER AND Yvonne AUDIER (Jointly) Michael STRATHERN Natalie NEWTON Paul PACHTER Petra ALFORD Stephen FIELD Timothy MARTIN Vaughan SAVAGE and Suzanne MCLELLAN (JOINTLY) Victor Raul RODRIGUEZ Victoria CLEARY Wayne Alexander OFFICER 1 INFRATECH GROUP LIMITED Type of business: Gold mine promoter Registered office: 5 Duncan Street, Port Nelson, Nelson, 7010, New Zealand Reason given for liquidation: Dissatisfied shareholder/creditor Estimated completion date: 31 July 2016 Prospect of a dividend: Unlikely Estate administration Infratech Mining Ltd was put into liquidation by a creditor, Lindsay Newton, on 26 June 2015 after a defended court hearing. Mr Newton loaned the company short term funds and was offered shares in lieu of interest. Initial enquiries reveal that the company has obtained approximately $1.9 million as short term funding from shareholder/creditors in the development of goldmines in Columbia. Investigations to date reveal no realisable assets in New Zealand. A vehicle owned by the company is secured and being repossessed by the security holder. The director has completed a statement of affairs for the company. He confirms the company has no assets and that it has no gold mines or mining licences in Columbia. He states that the "company held rights of assignment for mining licenses in Columbia but these have now lapsed with Company in liquidation." If you are a creditor of the company, please file a claim, along with copies of supporting documents at www.insolvency.govt.nz. The Official Assignee will only carry out further investigations to realise any identified assets if it is commercially viable to do so. Investigations will only be undertaken to achieve any of the following outcomes: • • • a dividend to creditors remedying breaches of company law resolving matters that are in the public interest. The Official Assignee relies on creditors to provide information to assist with investigations. In order for the Official Assignee to act on information provided by creditors, it is necessary for all information to be set out in writing with copies of all documentary evidence attached. If you have any information that differs significantly from that shown on our website or you have any queries regarding the administration of this liquidation, please contact me as soon as possible. Creditors’ Claims If you are owed money by the company you can assist the liquidation by lodging a claim. Information is available on our website at www.insolvency.govt.nz about online claim registration. Evidence to support the full amount claimed should be provided at the time you register your claim. Claims should be registered within fifteen (15) working days from the date of this notice. Creditors who do not make a claim within this period may be excluded from any distribution made before their claim is registered. 2 Personal Property Securities Act / Reservation of Title Should any creditor believe that they have registered a registered security interest such as a General Security Agreement (GSA) or Purchase Money Security Interest (PMSI) on the Personal Property Securities Register (PPSR) over any goods, or proceeds from realisation of goods, they should contact the Official Assignee immediately. If any creditor believes that they have any security interest such as a Reservation of Title or GSA over goods and they have not registered their interest on the PPSR, they should also contact the Official Assignee immediately. Creditors’ Meeting After having regard to the assets and liabilities of the company, the likely result of the liquidation and other relevant matters, it is proposed to dispense with a meeting of creditors under section 245 of the Act. The reason for this is that there are no issues, such as remedying breaches of company law and resolving matters that are in the public interest that the Liquidator is not already aware of. Should you desire a meeting, notice in writing is required within 10 working days of receiving this notice. You are also advised that section 314 of the Act permits any creditor or shareholder of the company to request the Official Assignee in writing (at any time during the course of the liquidation) to call a meeting of creditors or shareholders for the purpose of appointing a Liquidation Committee. Further reports Unless it is deemed necessary and as there is no expectation of a dividend being paid in this liquidation and in accordance with s254(b), the Assignee will only provide a Liquidator’s First Report within 25 working days of appointment and then a Final Report on completion of the administration. For the intervening period, you can obtain current information by registering as and logging onto our website at www.insolvency.govt.nz. Website: www.insolvency.govt.nz Creditors will be able to access detailed information contained on our website www.insolvency.govt.nz for this liquidation. This includes financial information, progress of any asset realisation and details of claims filed in the liquidation. The website is regularly updated as more information comes to hand during the course of our administration. Restrictions The information contained in this report has been compiled from a variety of sources including records assembled by the Official Assignee in the administration and in some instances supplied by the former company director. While every effort has been made to ensure its accuracy the Insolvency and Trustee Service and the Ministry of Business, Innovation and Employment will not be liable for any direct or indirect loss occasioned by the reliance of any party on the information provided. For enquiries please contact: Peter Hattaway, Peter.Hattaway@insolvency.govt.nz 3 Official Assignee Liquidator Address: Private Bag 4714, Christchurch, 8140, NZ Appendix Current financial information This financial information needs to be read in conjunction with the rest of the report. It should not be assumed that the final amount available will be the “Funds on hand” figure stated below. Where applicable, these amounts have been prepared on a GST exclusive basis. Total receipts: Total payments: Balance of funds on hand: $0.00 $0.00 $0.00 Summary of assets Number Asset type 1 1 1 1 Bank Account Insolvent Transactions Motor Vehicle Other (Mining licences) OA estimate $ $0.00 $0.00 $0.00 $0.00 Realised to date $ $0.00 $0.00 $0.00 $0.00 Summary of claims Number 1 1 24 18 Claim type Secured creditor Applicant creditor’s costs Contributory Unsecured creditor Total estimated claims 44 Notified $ 0.00 $ 0.00 $ 260,232.82 $ 4,048,557.89 Received $ 0.00 $ 0.00 $ 0.00 $ 17,589.54 $ 4,308,790.71 $ 17,589.54 Schedule of known creditors names and addresses: Claimant C & F Legal Limited Fletcher Vautier Moore Bowater Finance Limited Lindsay John Newton Accident Compensation Corporation Management Unit Akky Leurink Bentley Cottle Blueberry It Bob Cottle Brian Collins Carl Newby Address PO Box 1049, Nelson 7040 PO Box 90, Nelson 7040 PO Box 160, Nelson 7040 C/- Philip Bellamy, PL Law Limited, Po Box 8042, Nelson Mail Centre, Nelson 7042 PO Box 3248, Wellington 6140 18 Maire Street, Tahunanui, Nelson 7011 41 Avondale Road, Avondale, Auckland 1026 PO Box 1828, Nelson 7040 1 Norrie Place, Annesbrook, Nelson 7011 248 Rutherford Street, Nelson South, Nelson 7010 21 Otterson Street, Tahunanui, Nelson 7011 5 Don Smith Fred Patcher Ken Nicholls L Newton Family Trust Lindsay John Newton Marlene Jackson Net24 Peter Dallison Rebun Mass Steven Field Tan Kok Voon Brian and Joanna Collins Carol McLean Conan James Montrose Kennard and Sheila Kennard EA & WFK Pachter Infratech Group Limited Jan Newton John and Helen Loveday John Cleary Joshua Audier Juan Guillermo Bernal Lindsay Newton Lyn and Roslyn McKeown Lynden Over and Christine Robb Martin and Yvonne Audier Michael Strathern Natalie Newton Paul Pachter Petra Alford Stephen Field Timothy and Alison Martin Vaughan Savage and Susanne McLellan Victor Raul Rodriguez Victoria Cleary Wayne Alexander Officer C & F Legal 430 Redoubt Road, Totara Park, Auckland 2019 36 Mcleod Road, Henderson, Auckland 0612 10 Boyes Place, Enner Glynn, Nelson 7011 9 Hunt Street, , Richmond 7020 C/- Philip Bellamy, PL Law Limited, Po Box 8042, Nelson Mail Centre, Nelson 7042 53 Parker Street, , Motueka 7120 PO Box 1520, Christchurch 8140 Address Unknown 18 Maire Street, Tahunanui, Nelson 7011 472 Hill Street, Richmond 7020 tkv5000@yahoo.com.sg 248 Rutherford Street, Nelson South, Nelson 7010 7 Fyffe Street, Witherlea, Blenheim 7201 Main Road, R D 2, Motupiko Nelson 36 Mcleod Road, Henderson, Auckland 0612 1 Norrie Place, Annesbrook, Nelson 7011 9 Hunt Street, , Richmond 7020 19 Collingwood Street, The Wood, Nelson 7010 26 Wairiki Road, Mount Eden, Auckland 1024 70 Waterhouse Street, Enner Glynn, Nelson 7011 Calle 152a #14a-36, , Bogota 23 Enner Glynn Road, Enner Glynn, Nelson 7011 8 Roeske Street, , Richmond 7020 49 Kaka Street, , Taupo 3330 70 Waterhouse Street, Enner Glynn, Nelson 7011 33 Lord Rutherford Road, Brightwater 7022 6 D'arcy Street, Richmond 7020 40 - 42 Eden Crescent, Auckland Central, Auckland 1010 29 Aldinga Avenue, Stoke, Nelson 7011 472 Hill Street, Richmond 7020 8 Endeavour Street, Nelson South, Nelson 7010 58 Washbourn Drive, , Richmond 7020 Avenida Carrera 20 #88-90 Apto 202, , Bogota 26 Wairiki Road, Mount Eden, Auckland 1024 16 Teece Drive, , Motueka 7120 PO Box 1049, , Nelson 7040 6