Engagement Summary

Other companies within the Australian Investors Forum (“AIF”) group still under external administration with Alexander Macintosh:

Casabanca Pty Ltd (In Liquidation) ACN 095 929 801

Nominee Securities Pty Ltd (In Liquidation) ACN 096 142 255

Medionics Pty Ltd (In Liquidation) ACN 096 295 135

Biotech Securities Pty Ltd (In Liquidation) ACN 096 754 086

History

Alexander Macintosh was appointed Interim Receiver of AIF and 15 other related companies on 2 November 2001.  Subsequently he was appointed Liquidator over a number of those companies while others were taken out of Interim Receivership or were placed into Liquidation under the administration of Robert Whitton and David Lombe of Deloitte Touche Tohmatsu.

The appointments that are still under Mr Macintosh’s administration are set out above.

Following a lengthy Court process (number 5164 of 2001 in the Supreme Court of New South Wales) a judgement was made in late 2005 and orders were handed down in early 2006 that, inter alia, set out that:

§         Directors and advisers were to be banned from managing corporations for certain periods of time; and

§         Directors were to pay compensation to the Liquidators of AIF.