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Ferrier Hodgson has been appointed voluntary administrator of an ASX-listed iron ore company and its two subsidiaries.
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Ferrier Hodgson named administrator
14 July 2014
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Peter Gothard and John Melluish of Ferrier Hodgson were appointed administrators of Sherwin Iron Ltd., Sherwin Iron (NT) Pty Ltd and South Murchison Mines Pty Ltd.
Janna Robertson and Scott Kershaw of KordaMentha were appointed receivers and managers to each of these entities by the Group’s major lender.
The appointment follows the decision by the Group’s major shareholder not to support the recent Rights Issue and Share Purchase Plan which placed a strain on the ability of the Group to continue as a going concern and the lack of cash funding available.
The Administrators will not be responsible for any aspect of the Group’s trading including ongoing operations and dealing with the assets of the Group.
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