MEDIA ALERT
17 December 2009
RESTRUCTURE OF AUSTCORP APPROVED
Austcorp’s creditors have resolved to support a restructure of the Group via a Deed of Company
Arrangement proposed by Voluntary Administrators BRI Ferrier.
Joint Voluntary Administrator, Brian Silvia , said:
“Acceptance of the Deed represents a good outcome for creditors, where all finance creditors have
refrained from seeking enforcement during the past six months, enabling Austcorp to realise its
property assets at the highest possible values without destroying value which would have resulted
in less conducive circumstances in the event of enforcement.”
“The arrangement approved by creditors provides for a return to unsecured creditors and a
structure under which secured creditors have the ability, with the Austcorp Management team and
ourselves, to realise property assets at optimum prices.”
“The return to unsecured creditors is estimated at 5 to 10 cents in the dollar.”
Media inquiries to Graham Cassidy, Cato Counsel, 0419 202317
NEWS 
