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Gympie creditors confirm KPGM as administrators

GYMPIE Gold creditors today confirmed KPMG's Murray Smith and Joseph Hayes as administrators for the group at the first statutory meeting of creditors in Sydney.

Staff Reporter
Gympie creditors confirm KPGM as administrators

The creditors also resolved to appoint a committee of creditors to Gympie and two of its subsidiaries, Gympie Eldorado Gold Mines and Southland Coal.

Hayes told the meeting the assets of the group were under the control of receivers and managers and it was unlikely unsecured creditors would receive information on the size of any return to them until the extent of the damage to the Southlands colliery has been assessed.

He said further information would be provided to creditors at the second meeting, which would be convened towards the end of the month. MiningNews.net

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