Updated Information Sheets

With the commencement of the Insolvency Law Reform Act on 1 September 2017, we have updated our links to further information for stakeholders in the insolvency process.

Please click here to view our updated Resources section.

Welcome to Farnsworth Shepard

Adam Shepard and Adam Farnsworth are pleased to announce the creation of Farnsworth Shepard. Farnsworth Shepard is a specialist practice offering insolvency services and customised strategic solutions for your personal and business needs. Farnsworth Shepard now has over 15 staff to assist you with your needs.

Our Principals Adam Shepard and Adam Farnsworth have worked in insolvency firms for many years and bring to this new practice a wealth of experience in providing relevant and timely solutions to financial and business problems.

Quest Minerals Shareholders

Quest Minerals Limited (Subject to Deed of Company Arrangement) (Subject to Creditors' Trust) (Listed on the ASX - "QNL")

Adam Shepard was appointed Voluntary Administrator of Quest Minerals Limited on 9 May 2014. As a consequence of a resolution by creditors made at a meeting on 18 August 2014, the Company executed the Deed of Company Arrangement proposed by Mr Jerome Gino Vitale on 18 August 2014.

Updates to shareholders will be provided by way of announcements on the ASX and also on this website under "Reports" > "Corporate Administrations" > "Quest Minerals Limited".

Please contact Alister Yee of this office should you have any questions.

Metal Storm Shareholders

Metal Storm Limited (In Liquidation) (Receivers Appointed) (Formerly listed on the ASX - "MST")

 

Messrs Adam Shepard and Adam Farnsworth were appointed Deed Administrators of Metal Storm Limited ("the Company") on 22 November 2012 having previously been appointed Voluntary Administrators on 26 July 2012. Mr Farnsworth ceased as Deed Administrator of the Company on 11 September 2013. The Company was delisted from the ASX on 30 August 2013.

Ordinary shareholders are advised that they are now able to claim capital losses on their investments as the Deed Administrator has provided notice that he has reasonable grounds to believe that there is no likelihood that the ordinary shareholders (formerly quoted on the ASX under the security code - "MST") would receive any further distribution from their shares.

A copy of the loss declaration to ordinary shareholders is available on this website under "Reports" > "Corporate Administrations" > "Metal Storm Limited (Subject to DOCA)"

In relation to the court application, the matter was heard before Justice Black between 27 and 29 May 2014. Justice Black handed down his decisions on 19 June 2014. On 23 July 2014, the Court made orders to inter alia: Terminate the deed of company arrangement, appoint Adam Shepard as Liquidator of the Company and also appoint Messrs Christopher Darin and Aaron Lucan of Worrells as Joint and Several Receivers of the Company.

Please refer to documents under "Reports" > "Corporate Administrations" > "Metal Storm Limited (Subject to DOCA)" for a copy of the judgment and orders made.

Please also refer to the documents available under under "Reports" > "Corporate Administrations" > "Metal Storm Limited (Subject to DOCA)" for further information on relief instruments issued and revoked by ASIC.

Please contact Alister Yee of this office should you have any questions.

UXA Resources Shareholders

UXA Resources Limited (Formerly listed on the ASX - "UXA")

Adam Shepard was appointed Deed Administrator of UXA Resources Limited on 22 November 2013 having previously been appointed Voluntary Administrator on 26 July 2013.

On 20 November 2013, ASIC granted an extension in relation to the Company's annual general meeting obligations. On 13 February 2014, ASIC granted a further extension.

A copy of the letters from ASIC granting these extensions and announcements to shareholders are available under "Reports" > "Corporate Administrations" > "UXA Resources Limited".

The terms of the Deed of Company Arrangement were met and the DOCA was wholly effectuated on 5 May 2015.

The UXA Resources Creditors' Trust was established on 1 May 2015 and the Participating Creditors are now beneficiaries of the Trust.

Please contact Alister Yee of this office should you have any questions.