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McGrathNicol > administrations > property developers fund limited
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Engagement Summary
William James
Harris and John Patrick Cronin were appointed voluntary administrators of
Property Developers Fund Limited (“PDFL”) for the period from 24 November 2006 to 7 May 2007.
As a result of
applications brought by ASIC and the administrators that were heard on 8 May
2007, the Supreme Court of Queensland ordered that PDFL be wound up on just and
equitable grounds. The former
administrators, William James Harris and John Patrick Cronin, were appointed as
liquidators of PDFL.
PDFL raised funds
through the issue of redeemable preference shares and provided finance for
property developments.
The liquidators
will shortly provide further information to creditors and shareholders of PDFL
regarding the proposed strategy for the conduct of the winding up.
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