Corporations Act 2001 - HLB Mann Judd (Insolvency WA) · Charlie Ransom 13 Alassio Parade Secret Harbour WA 6173 $ 11,315.16 Martau Rapana 13 Paperbark Way Wannanup WA 6210 $ 900.48

Contact: Gary Anderson Email: [email protected] Phone: (08) 9215 7922

Declaration of Independence, Relevant Relationships & Indemnities

In accordance with the Australian Restructuring Insolvency & Turnaround Association’s (“ARITA”) Code of Professional Practice, I enclose a Declaration of Independence, Relevant Relationships & Indemnities (“DIRRI”). I considered the question of my independence prior to accepting this appointment. Whilst, in this instance, my appointment has been initiated by the Company’s Director and shareholder, I have had no prior personal, professional or advisory relationship with the company, its shareholders or the directors, except in general discussion regarding the current financial position of the company. I am, therefore, totally independent and impartial. In the circumstances, I am not aware of any reason why I am not able to continue to act as Liquidator. However, creditors may, by resolution, appoint another person as Liquidator in my place should they wish to do so.

1 August 2014 NOTICE TO CREDITORS OF MEETING

Dear Sir / Madam Rochard Drilling Pty Ltd (In Liquidation) ACN 146 602 824 As Trustee for the Millard Family Trust Formerly trading as Rochard Drilling (“the Company”) Winding Up of the Company I write to advise that I was appointed as Liquidator of the Company on 22 July 2014 pursuant to section 491(1) of the Corporations Act 2001 (“the Act”). Information for Creditors I enclose a copy of the Australian Securities & Investments Commission (“ASIC”) list of insolvency information sheets available for download from the ASIC website. Insolvency Notices In accordance with changes to the Corporations Regulations I advise that notices of meetings of creditors, notices for proofs of debt and intention to declare dividends which were previously published in newspapers and the Business Gazette are now advertised online at ASIC Published Notices Website (http://insolvencynotices.asic.gov.au).

http://insolvencynotices.asic.gov.au/

Meeting of Creditors In accordance with the provisions of the Act I have convened a meeting of the Company’s creditors to be held at my office located at Ground Floor, 15 Rheola Street, West Perth WA 6005 on Tuesday, 12 August 2014 at 10.00am. A notice with respect to the meeting is enclosed. Summary of Affairs The financial position of the Company at 22 July 2014 is set out in the attached Summary of Affairs. The basic information is sourced from the Director’s Report as Affairs and may be subject to change. Any significant amendments will be brought to the attention of creditors at the upcoming meeting. Plant & Equipment I advise that I have arranged a valuation of the Company’s plant and equipment assets. My investigations have revealed that a number of assets are encumbered by way of Personal Property Security Register (“PPSR”) security interests. I am currently reviewing the asset valuation and considering the options available to me to realise the assets of the Company. Debtors & Scottish Pacific Business Finance Pty Ltd All of the assets of the Company are secured by way of a registered security interest in favour of Scottish Pacific Business Finance Pty Ltd (“Scottish Pacific”) who offered debtor factoring services to the Company. In the first instance, the liability owed to Scottish Pacific appears to be suitably covered by the outstanding debtors of the Company. Of the $83,000 (approximately and subject to enforcement of penalty changes pursuant to their contract with the Company) owed to Scottish Pacific under their security interest, approximately $68,000 has been recovered from the debtors of the Company. Once Scottish Pacific is paid in full, the balance of debtors will be flow to the Company for the benefit of its creditors. List of Creditors A list of the Company’s creditors is also enclosed for your information. Appointment of Proxy Creditors unable to attend the meeting may appoint someone to attend and vote on their behalf. A proxy form (Form 532) is attached for that purpose. A table is attached which will assist creditors in determining whether they are required to complete the form for the meeting. Companies who are creditors are reminded that a proxy form must be completed in order to be represented at the meeting. Requirements for executing corporate proxies are attached. Proxies should be executed and forwarded to me at my mailing address or faxed to reach at least one (1) business day before the meeting.

Proof of Debt A Proof of Debt (Form 535) is attached. Creditors should complete this form and forward it me at my mailing address or by fax to reach me one (1) business day before the meeting. In accordance with Regulation 5.6.23 of the Act, no person will be entitled to vote as a creditor at the meeting unless they have lodged with the Chairman of the meeting, particulars of the debt or claim which he claims to be due to him by the Company. Supporting documentation:

1. Please ensure that substantiating evidence such as invoices, statements and other documentation is attached to your Proof of Debt.

2. If you attach documentation to substantiate your claim now you may avoid difficulties in the future in the event that a divided is paid.

3. If your claim is disputed at the meeting supporting documentation attached to your Proof of Debt will assist the Chairman in determining your entitlement to vote at the meeting.

4. If you have a claim for outstanding employee entitlements, please attach a worksheet showing how the entitlements have been calculated.

5. If you are claiming retention of title over goods supplied to the company pursuant to a contract or the Personal Property Securities Act or any lien over goods in your possession which are property of the company, please provide by no later than the date of the meeting details of your claim, together with relevant documentation, including (but not limited to) copies of unpaid invoices supported by proof of delivery, a copy of your conditions of sale, evidence that terms and conditions were accepted by the company.

Committee of Inspection Persons who represent companies are reminded that, in the event a Committee of Inspection is appointed and they wish to be nominated as a member of the Committee, they must be authorised to act by the company, in accordance with section 548(3)(a)(iii) of the Act. Remuneration Creditors ought to be aware that my fees and expenses are paid out of the assets of the Company. Professional fees are charged on an hourly basis in accordance with my firm’s scale of fees, details of which are set out in my enclosed Initial Advice to Creditors - Remuneration. ARITA’s Creditor Information Sheet “Approving Remuneration in External Administrations” is available for download from ARITA’s website http://www.arita.com.au. I will be seeking approval to draw my remuneration for the period 22 July 2014 to 30 July 2014 in the amount of $8,854.50, details of which are set out in my Remuneration Report which is enclosed for your information. Creditors will no doubt appreciate that at this early stage it is difficult to be across all of the issues. However, based on my preliminary understanding of the liquidation to date, I anticipate that my future fees as Liquidator will be in the range of approximately $50,000 to $73,000, plus GST and out of pocket expenses. The variation of fees reflects the range of issues that may be required to be addressed. It is my practice to seek a resolution that my future fees are fixed in an amount, above which further approval is required by creditors. I will be seeking creditor approval to cap my future remuneration to an upper limit of $72,934.00, above which further approval be required, plus GST and out of pocket expenses. Details are set out in my enclosed Remuneration Report.

Should you have any queries in relation to this Company’s affairs please do not hesitate to liaise with the contact detailed on the first page of this letter. Yours faithfully

Kim Wallman – Liquidator of Rochard Drilling Pty Ltd (In Liquidation) ACN 146 602 824

Form 529 Corporations Act 2001

Notice of a Meeting of Creditors of

Rochard Drilling Pty Ltd (In Liquidation) ACN 146 602 824 As Trustee for the Millard Family Trust Formerly Trading as Rochard Drilling

(“the Company”) Notice is given that a Meeting of Creditors of the Company will be held on Tuesday, 12 August 2014 at 10.00am at Ground Floor, 15 Rheola Street, West Perth WA.

AGENDA

1. The purpose of the meeting for creditors to vote on the following:

a) Consider appointing an alternative Liquidator per section 497(11); b) Consider appointing a Committee of Inspection per section 548; c) Approve the Liquidator’s remuneration per section 499(3) in accordance with the

Liquidator’s Report given under section 499(6), (7); and d) Consider the disposal of books and records after the dissolution of the Company per

section 542.

2. Consider any other relevant business. Dated 1 August 2014

Kim Wallman – Liquidator of Rochard Drilling Pty Ltd (In Liquidation) ACN 146 602 824

A.C.N. 146 602 824

Creditor Database

Priority Creditors Address 1 Address 2 Suburb State P/Code Records / RATAAustralian Taxation Office Sent via Fax: 1300 726 594

Warren James Atkinson Unit 6/186 Collier Rd Bayswater WA 6053 692.05$

Nathan Beard 3A McLarty Rd Shoalwater WA 6169 4,004.28$

Adam Bender 22 Gallery Way Packenham VIC 3810 6,120.91$

David Brookfield 16 Corrong Crescent Mooroolbark VIC 3138 712.88$

Stephen Brown 8/15 Ellam St St James WA 6102 6,675.90$

Stephen Erik Buckle 136 Shenton Rd Barragup WA 6209 1,145.33$

Michael Chalcraft PO Box 150 Bindoon WA 6566 12,292.40$

Trina Hodges 10 Haven Place Pinjarra WA 6208 2,234.61$

Sean Johnson 258 Dyer Lane CLACKLINE WA 6564 277.02$

Kate Laing 15 Kingfisher Way Singleton WA 6175 621.10$

Bradley Lewis 4 Carradale Mews Erskine WA 6210 1,266.54$

Stephen Robert Oliver 1-B Webber St Bunbury WA 6230 1,469.71$

Julio Cesar Orellana 122 Morley Dr East Eden Hill WA 6054 1,559.27$

Charlie Ransom 13 Alassio Parade Secret Harbour WA 6173 11,315.16$

Martau Rapana 13 Paperbark Way Wannanup WA 6210 900.48$

Paul Slater 14 Admiralty Place Leschenault WA 6233 218.48$

Teagan Van Rees 13 Eden Street Dudley Park WA 6210 1,623.86$

Daniel Warr 7 Selene Way San Remo WA 6210 35,111.87$

Ryan Warr 14 Catalpa Place Falcon WA 6210 4,392.82$

Tre Fong C/- 6 Fields St Pinjarra WA 6208 246.15$

TOTAL 92,880.82$

Secured Creditors Address 1 Address 2 Suburb State P/Code Records / RATASCOTTISH PACIFIC BUSINESS FINANCE PTY LTD GPO Box 9969 Perth WA 6001 TBC

WESTPAC BANKING CORPORATION GPO Box 3553 Sydney NSW 2001 TBC

TOYOTA FINANCE AUSTRALIA LTD PO Box 1354 Macquarie Center NSW 2113 TBC

COATES HIRE OPERATIONS PTY LIMITED P O Box 347 Mascot NSW 1460 TBC

CAPITAL FINANCE AUSTRALIA LIMITED P.O. BOX 7685 Baulkham Hills NSW 2153 TBC

MACQUARIE LEASING PTY LTD PO Box H94 Australia Square NSW 1215 TBC

BOC LIMITED 10 Julius Avenue North Ryde NSSW 2113 TBC

ST. GEORGE FINANCE LIMITED GPO Box 5335 Sydney NSW 2001 TBC

SERVICE FINANCE CORPORATION LTD PO Box 693 Wembley WA 6913 TBC

TOTAL -$

Unsecured Creditors Address 1 Address 2 Suburb State P/Code Records / RATAADIA PO Box 3020 FRANKSTON EAST VIC 3198 1,040.00$

AETEC Pty Ltd 1/95 Kew Street WELSHPOOL WA 6106 138.88$

Alinta Gas Attn: Credit Control Locked Bag 55 Perth WA 6849 TBC

Alsco Perth PO Box 1060 CANNING VALE WA 6970 48.51$

Atlas Copco Construction 3 Bessemer Street BLACKTOWN WA 2148 3,803.50$

Australian Taxation Office Sent via Fax: 1300 726 594 TBC

Besmindo Australia Unit 9/20 Malcolm Road MADDINGTON WA 6109 11,396.02$

Besmindo Australia [email protected] as above

Boc Ltd 234 Welshpool Road WELSHPOOL WA 6106 1,824.93$

CBD SUPPERANNUATION 14 Camilla Close WINDELLA WA 2320 2,160.00$

Chubb Fire & Security Pty Ltd GPO Box 1605 SYDNEY NSW 2001 442.92$

Coates Hire 1512 Albany Highway CANNINGTON WA 6107 270.02$

Collie Steel Machining & Engineering Lot 2632 Rowlands Road COLLIE (LIA) WA 6225 3,555.00$

Covs Locked Bag 217 WELSHPOOL WA 6986 806.94$

Cummins South Pacific Pty Ltd PO Box 52 WELSHPOOL WA 6986 3,450.06$

Currie Wickens Chartered Accountants PO Box 3065 Broadway NEDLANDS WA 6009 7,040.00$

Department of Transport 71.65$

Filter Discounters 3/9 Inspiration Street WANGARA WA 6065 706.09$

Foremost Asia Pacific Pty Ltd PO Box 224 SANCTUARY COVE QLD 4212 1,221.00$

Fox Line Trucks PO Box 3399 BASSENDEAN DC WA 6942 12.60$

Gareth Rhys Millard 11 Willoughbrighe Crescent Erskine WA 6210 50,000.00$

Grand Toyota 67.08$

Harvey Courier Service PO Box 358 HARVEY WA 6220 363.76$

Hydraulink Fluid Connectors Peel 18 Holstein Drive EATON WA 6232 15,474.24$

Inflight Magazine Pty Ltd PO Box 6133 BURANDA QLD 4102 2,887.50$

Instant Transportable Offices PO Box 1383 WANGARA WA 6947 1,774.94$

Instant Waste Management PO Box 419 MORLEY BC WA 6943 317.68$

Irdi Legal 248 Oxford Street LEEDERVILLE WA 6902 440.00$

J & M Bradley 90 Pelican Parade BALLAJURA WA 6066 6,200.00$

RocHard Drilling Pty Ltd (in Liquidation) Note: TBC - To be confirmed

JPB TRANSPORT AND LOGISTICS PTY LTD 20 Ballantyne Road KEWDALE WA 6105 34,653.50$

Kevin Green Real Estate 21 Mandurah Terrace MANDURAH WA 6210 3,191.52$

Konnect WA Locked Bag 17 WELSHPOOL DC WA 6986 777.51$

LHS Rocktools (Aust) Pty Ltd PO Box 121 WELSHPOOL WA 6986 5,297.00$

Mandurah Bins PO Box 2072 MANDURAH WA 6210 625.13$

Mandurah Communications 82 Malata Ridge LAKELANDS WA 6180 558.25$

Mandurah Industrial Guards Pty Ltd PO Box 1071 MANDURAH WA 6210 88.00$

Map Crane Hire PO Box 94 MANDURAH WA 6210 924.00$

Motorpass Diesel [email protected] 1,088.39$

Officeworks [email protected] 802.08$

Orrcon Steel PO Box 295 SALISBURY QLD 4107 243.71$

Peel health campus 110 Lakes Road MANDURAH WA 6210 203.00$

Pinjarra Medical Centre 26 Forrest Street PINJARRA WA 6208 187.00$

Pittwater Enterprises Pty Ltd PO Box 179 CHURCH POINT NSW 2105 852.50$

Polytechnic West PO Box 1336 MIDLAND WA 6936 353.73$

RocHard Engineering Pty Ltd PO Box 1048 MANDURAH WA 6210 4,214.27$

Sandvik Locked Bag 6 MILTON BC QLD 4064 6,981.34$

SB Mechanical 1 Cox Street PINJARRA WA 6208 726.00$

Seek GPO Box 2335 SYDNEY NSW 2001 528.00$

Singtel Optus PO Box 280 Collins Street West Melbourne VIC 8007 TBC

St John Ambulance Australia (Western Australia) In209 Great Eastern Highway BELMONT WA 6104 951.59$

Synergy GPO Box U1913 Perth WA 6845 TBC

Telstra Sent via email: [email protected] 1,806.60$

The Lifting Company 3-5 Ballantyne Road KEWDALE WA 6105 1,386.00$

The Peel Safety Inst PO Box 3295 MANDURAH EAST WA 6210 180.00$

The Sheriff's Office Central Law Courts Level 5, 501 Hay St Perth WA 6000 TBC

Transeals Pty Ltd 1 Atlas Court WELSHPOOL WA 6106 623.93$

Transpacific Environmental Recovery Service 32 Ewing Street BENTLEY WA 6102 1,844.15$

Tuckeys Hardware 19 George Street PINJARRA WA 6208 60.03$

WAshpod 127 Burswood Road BURSWOOD WA 6100 1,760.00$

Water Corporation 629 Newcastle Street Leederville WA 6007 TBC

West Country print sync PO Box 1400 MANDURAH WA 6210 116.40$

Western Power GPO Box L921 Perth WA 6842 TBC

Westernex 5 Williams Street KALGOORLIE WA 6430 3,819.39$

WT Hydraulics PO Box 1301 KALGOORLIE WA 6433 1,202.66$

Wurth Australia Pty Ltd 28 Mumford Place BALCATTA WA 6021 381.49$

TOTAL 191,940.49$

Declaration of Independence, Relevant Relationships and Indemnities (“DIRRI”)

Rochard Drilling Pty Ltd (In Liquidation) ACN: 146 602 824

As Trustee for The Millard Family Trust Formerly trading as Rochard Drilling

(“the Company”)

This document requires the Practitioner appointed to an insolvent entity to make declarations as to: A. their independence generally; B. relationships, including

i. the circumstances of the appointment; ii. any relationships with the company and others within the previous 24 months; iii. any prior professional services for the company within the previous 24 months; iv. that there are no other relationships to declare; and

C. any indemnities given, or up front payments made, to the Practitioner. This declaration is made in respect of myself and my firm, HLB Mann Judd (Insolvency WA). A. Independence I, Kimberley Stuart Wallman, Chartered Accountant, have undertaken a proper assessment of the risks to my independence prior to accepting the appointment as liquidator of the company in accordance with the law and applicable professional standards. This assessment identified no real or potential risks to my independence. I am not aware of any reasons that would prevent me from accepting this appointment. B. Declaration of Relationships i. Circumstances of appointment This appointment was referred to Mr Gary Anderson of my office by Mr Geoff Currie of Currie Wickens Chartered Accountants based in Nedlands, Western Australia. The reasons I believe that this relationship does not result in me having a conflict of interest or duty are:

Whilst Mr Currie’s practice has intermittently referred insolvency type matters to Mr Anderson of my firm over the past 17 years, referrals from solicitors, business advisors and accountants are commonplace and do not impact on my independence or Mr Anderson’s independence in carrying out my duties as liquidator; and

There are no understandings or requirements that work in the Liquidation will be given to the referrer and the referral does not contain or is conditional upon giving or receiving of any commissions, inducements or benefits.

Mr Anderson first had a general telephone discussion with Mr Currie regarding the Company on 20 May 2014. Mr Anderson first met with the Director of the Company on the same day to discuss the insolvency options available to the Company. Mr Anderson met again with the Director on 9 July 2014 to again discuss the financial position of the Company and the potential need to place the Company into Voluntary Administration or Liquidation. At that time, the Director was seeking further funding for the Company and was endeavouring to win a contract for the Company; however neither of these efforts came to fruition. Mr Anderson met again with the Director on 21 July 2014 and it was at that time that the Director conceded that the Company should be placed into Liquidation. At a meeting of the Company’s Members held on 22 July 2014, it was resolved that the Company should be placed into Liquidation. Neither I or Mr Anderson received any remuneration for this advice.

In my opinion, these meetings do not affect my independence for the following reasons:

The Courts and the Australian Restructuring Insolvency & Turnaround Association’s Code of Professional Practice specifically recognise the need for practitioners to provide advice on the insolvency process and the options available and do not consider that such advice results in a conflict or is an impediment to accepting the appointment;

The nature of the advice provided to the Company is such that it would not be subject to review and challenge during the course of the liquidation; and

The pre-appointment advice will not influence my ability to be able to fully comply with the

statutory and fiduciary obligations associated with the Liquidation of the Company in an objective and impartial manner.

I have provided no other information or advice to the Company or its Director prior to my appointment beyond that outlined in this DIRRI. ii. Relevant Relationships (excluding Professional Services to the Insolvent) Neither I, nor my firm, have, or have had within the preceding 24 months, any relationships with the company, an associate of the company, a former insolvency practitioner appointed to the company or any person or entity that has a security over the whole or substantially whole of the company’s property. iii. Prior Professional services to the Insolvent Neither I, nor my firm, have provided any professional services to the company in the previous 24 months. iv. No other relevant relationships to disclose There are no other known relevant relationships, including personal, business and professional relationships, from the previous 24 months with the company, an associate of the company, a former insolvency practitioner appointed to the company or any person or entity that has security over the whole or substantially whole of the company’s property that should be disclosed. C. Indemnities and up-front payments I have not been indemnified in relation to this Liquidation, other than any indemnities that I may be entitled to under statute. Dated 1 August 2014

Kimberley Stuart Wallman – Liquidator of Rochard Drilling Pty Ltd (In Liquidation) ACN 146 602 824 Note:

1. If circumstances change, or new information is identified, I am are required under the Corporations Act and the IPA Code of Professional Practice to update this Declaration and provide a copy to creditors with my/our next communication as well as table a copy of any replacement declaration at the next meeting of the insolvent’s creditors. 2. Any relationships, indemnities or up-front payments disclosed in the DIRRI must not be such that the Practitioner is no longer independent. The purpose of components B and C of the DIRRI is to disclose relationships that, while they do not result in the Practitioner having a conflict of interest or duty, ensure that creditors are aware of those relationships and understand why the Practitioner nevertheless remains independent.

STATEMENT REGARDING REMUNERATION

Rochard Drilling Pty Ltd (In Liquidation) ACN 146 602 824 As Trustee for the Millard Family Trust Formerly trading as Rochard Drilling

(“the Company”)

A. REMUNERATION METHODS There are four methods that can be used to calculate remuneration charged by an insolvency practitioner. These are: Time based/hourly rates This is the most common method used. The total fees charged is based on the hourly rate charged by each person who carries out the work, multiplied by the number of hours spent by each person on each work task performed. Fixed fee The total fee charged is normally quoted at the start of the appointment and is the total cost for the administration. Sometimes an insolvency practitioner will finalise an administration for a fixed fee. Percentage The total fee charged is based on a particular variable such as the total gross proceed from asset realisations. Contingency The insolvency practitioner’s fee is contingent on achieving a particular outcome/s. B. METHOD CHOSEN Time based remuneration is appropriate for this administration because:

It ensures creditors are only charged for work performed in the conduct of the administration; I am required to perform tasks unrelated to asset realisations; therefore fees solely based on

asset realisations would be impractical; I am unable to provide a reliable estimate of the total remuneration required to complete all

tasks in the administration.

C. FEE ESTIMATE As noted above, at this stage it is estimated fees will total $15,000 (excluding GST and excluding expenses) to the first meeting of creditors. The total costs of the Liquidation will vary depending on the work required to be performed by the Liquidator and staff in respect of issues arising from the Liquidator. Dated 1 August 2014

Kimberley Stuart Wallman – Liquidator Rochard Drilling Pty Ltd (In Liquidation) ACN 146 602 824

Liquidator Kim Wallman

Appointment Date 22 July 2014

Meeting of Creditors Tuesday, 12 August 2014

Contact Gary Anderson

Telephone Number 08 9215 7900

Rochard Drilling Pty Ltd (In Liquidation) ACN: 146 602 824

As Trustee for the The Millard Family Trust

Formerly trading as Rochard Drilling

(“the Company”)

Remuneration Report

Dated 1 August 2014

Rochard Drilling Pty Ltd (in Liquidation) ACN: 146 602 824 Remuneration Report _____________________________________________________________________________________________________

_____________________________________________________________________________________________________ Page | 2 HLB Mann Judd (Insolvency WA) – Kim Wallman

1. Introduction

In compliance with the Australian Restructuring Insolvency & Turnaround Association (“ARITA”) Code of Professional Practice and the requirements of the Corporations Act 2001, I set out below my remuneration report for the period 22 July 2014 to 30 July 2014, and prospective future remuneration.

2. Declaration

I, Kim Wallman, have undertaken a proper assessment of this remuneration claim for my appointment as Liquidator of the Company in accordance with the law and applicable professional standards, I am satisfied that the remuneration claimed is in respect of necessary work properly performed, in the conduct of the Liquidation.

3. Summary of Remuneration Approvals Sought

To date no remuneration has been approved and paid in this Liquidation. This remuneration report details approval sought for the following remuneration:

Remuneration Amount (Exc GST)

Current remuneration approvals sought:

Resolution from 22 July 2014 to 30 July 2014 8,854.50

Resolution from 31 July 2014 to Finalisation 72,934.00

Total remuneration sought 81,788.50

*Approval for the future remuneration sought is based on an estimate of the work necessary to the completion of the

Liquidation. Should additional work be necessary beyond what is contemplated, further approval be sought from creditors

4. Description of Work

The tasks which external administrators undertake can be broadly divided into seven categories. These are:

Assets Creditors Employees Trade on Investigation Dividend Administration

Information on the seven categories (if work done is applicable) is summarised in Annexure A to enable creditors to understand the type and purpose of work being undertaken.



5. Calculation of Remuneration (Time Basis)

I advise that HLB Mann Judd (Insolvency WA) utilises the time basis method for charging remuneration. Time based remuneration is appropriate for this liquidation because:

It ensures creditors are only charged for work performed in the conduct of the liquidation; I am required to perform tasks unrelated to asset realisations; therefore fees solely based on

asset realisations would be impractical; I am unable to provide a reliable estimate of the total remuneration required to complete all

tasks in the liquidation.

Information regarding the time charged by myself and my partners and staff working on this appointment is summarised in Annexure A to enable creditors to understand the time undertaken on various tasks in the liquation as described above. The schedule of hourly rates for the 2014/15 financial year are set out below:

Classification Details of classification Charge out rate / hour (excl of GST)

Appointee Registered Liquidator and Registered Trustee, 30 years of experience in the insolvency profession

$478

Senior Consultant Registered Liquidator and Registered Trustee $437 - $473 Consultant Responsible for assisting with specific high level

field work tasks $355

Manager Responsible for and co-ordinating and assisting in completing fieldwork and investigations

$288 - $334

Senior Responsible for assisting Manager in completing field work and investigations + conducting Members Voluntary Liquidations and assisting in Bankruptcy Act appointments

$226

Intermediate Responsible for assisting the Manager/ Senior with field work and investigations

$174

Secretary Administration and secretarial assistance $82 - 159

6. Remuneration Recoverable from External Sources

I have not received any payments from external sources for the conduct of this Liquidation.



7. Disbursements

Disbursements are divided into three types:

A disbursements are all externally provided professional services and are recovered at cost. An example of an A disbursement is legal fees.

B1 disbursements are externally provided non-professional costs such as travel,

accommodation and search fees. They are recovered at cost. B2 disbursements are internally provided non-professional costs such as photocopying

and document storage. B2 disbursements are charges at cost except for photocopying, printing and telephone calls which are charged at a rate which is intended to recoup both variable and fixed costs.

Full details of disbursements on this appointment are provided in the attached remuneration summaries (page 2 and 4 of Annexure A). I have undertaken a proper assessment of disbursements claimed for the Company, in accordance with the law and applicable professional standards, I am satisfied that the disbursements claimed are necessary and proper. Creditor approval for the payment of disbursements is not required however, I must account to creditors. Creditors have the right to question the incurring of the disbursements and can challenge the disbursements in court.

8. Report on Progress of Liquidation

I invite creditors to review my report to creditors dated 1 August 2014 for further and better particulars regarding the progress of the appointment to date.

9. Future Remuneration

When creditors meet on Tuesday, 12 August 2014, I will ask for approval to be paid remuneration for services rendered in the Liquidation of the Company. A summary of the major tasks and costs relating to the professional services for the period 22 July 2014 to 30 July 2014 is set out in page 1-2 of Annexure A, and the expected tasks and costs relating to the professional services for the period beginning 31 July 2014 to finalisation, is set out in page 3-4 of Annexure A. I will report to creditors should matters change which prevent me from being able to complete the liquidation of the Company for this capped amount of remuneration.

10. Summary of Receipts and Payments

There are currently no receipts and payments for the liquidation of the Company.

11. Previous Remuneration Claims

Please refer to section 3 above for information regarding my previous remuneration approvals in this appointment.



12. Statement of Remuneration Claim

At the forthcoming meeting of creditors, creditors will be asked to pass the following resolutions: Liquidator’s Past Fees 22 July 2014 to 30 July 2014 (Annexure A pages 1-2)

“That the remuneration of the Liquidator and his partners and staff for the period 22 July 2014 to 30 July 2014 calculated at hourly rates detailed in the Remuneration Report to creditors of1 August 2014, is determined in the sum of $8,854.50, which excludes GST and expenses and is approved for immediate payment”. Prospective Fees from 31 July 2014 to finalisation (Annexure A pages 3-4) “That the future remuneration of the Liquidator from 31 July 2014 to finalisation is determined at a sum equal to the cost of time spent by the Liquidator and his partners and staff, calculated at the hourly rates as detailed in the Remuneration Report to creditors of 1 August 2014 that will be increased in accordance with the annual Consumer Price Index (all groups) at 31 March each year, to be adjusted at 1 July each year, up to a capped amount of $72,934.00, exclusive of GST, above which further approval be required, and that the Liquidator can draw the remuneration on a monthly basis or as required.”

13. Queries/Information Sheets

The above information is provided to assist creditors consider the appropriateness of the remuneration claim that is being made. Creditors should feel free to contact my office to seek further information concerning the remuneration claim if they so need. ARITA has produced a document entitled “Creditor Information Sheet: Approving remuneration in external administrations”. This document can be downloaded from the ARITA website www.arita.com.au or alternatively a copy can be obtained by contacting this office. Yours faithfully,

Kimberley Wallman – Liquidator of Rochard Drilling Pty Ltd (In Liquidation) ACN: 146 602 824

http://www.arita.com.au/

RocHard Drilling Pty Ltd (In Liquidation) ACN: 146 602 824 Appendix A

Creditors Voluntary Liquidation Page 1 of 4

Kimberley Wallman (Liquidator)

HLB Mann Judd (Insolvency WA)

TASKS COMPLETED IN THE PERIOD:

FROM - 22 July 2014

TO - 30 July 2014

FOR REMUNERATION APPROVAL

Task Area General Description Includes

[Est. cost]

Assets Plant and equipment Travel to Company premises to inspect assets and meet with the director.

$2,190.50 Review depreciation schedule of unidentified assets, send to valuer.

Discuss use of assets internally.

Debtors & Secured

Creditor

Review secured creditor position. Meet with secured creditor to discuss book

debts and recovery options.

Review lease contracts, discussions with bank regarding payout of finance

leases.

Prepare and post secured creditor letters requesting information and

contract details for security interests registered at the PPSR.

Respond to secured creditor payout figure, contact details and asset

valuation.

Discussions with debtor collection agencies, attend meetings to arrange

debtor actions and discuss the progress of collection.

Review debtor invoices and discuss with director.

Searches Complete vehicle and vessel search.

Conduct Landgate search for properties in Company name.

Creditors Database details Create creditor dividend database and claim and proof register. Add all

creditor addresses and Company record details into the database.

$3,478.40 Request employee details and add into the creditors dividend database.

Review creditor details, amounts outstanding and balance sheet details and

related creditors information.

First circular to creditors Work on the first report to creditors, review company details

Sent meeting and post dates for creditors circulars and meetings.

Employees Entitlements Discussions and correspondence to and from bookkeeper regarding

transferred of employee to a related entity.

$501.30 Work on employee entitlements information and preparation of Fair

Entitlement Guarantee letter.

Investigations Director obligations Prepare director's letter requesting report as to affairs, questionnaire and

demand for books and records documents.

$1,747.10 Follow up director report as to affairs and require documents to be

completed.

Discussions with the director regarding valuation of assets and

administration process.

Books and records Organise and review 2014 financial accounts.

Request Company records from the Company bookkeeper and review.

Search Conduct and review director name search

Secured creditor Consider issues with PPSR and ownership of assets claimed by the director

and a third party.

Administration General Filing, file e-mailing system, photocopying, scanning documents, manage

incoming mail.

$937.20 Manage disbursements and data entry of payments and receipts.

Meeting regarding first day task requirements and appointment details.

Update the website with creditors reports and minutes.

Maintain checklist for the progress of the appointment

Banking Freeze Company bank accounts.

Open new Liquidation bank account.

Review bank account and complete bank reconciliation

Search Prepare and conduct conflict check.

Conduct and save Veda credit file search.

Statutory requirements Lodge statutory documents required, ASIC forms 505, 205 and 484.

Prepare and submit ASIC notices online regarding appointment.

Prepare Australian Taxation Office form regarding appointment and new

bank account details.

TOTAL

$8,854.50

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Page 2 of 4

Appendix A

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RocHard Drilling Pty Ltd (In Liquidation) ACN: 146 602 824 Appendix A

Creditors Voluntary Liquidation Page 3 of 4

Kimberley Wallman (Liquidator)

HLB Mann Judd (Insolvency WA)

TASKS COMPLETED IN THE PERIOD:

FROM - 31 July 2014

TO - Finalisation

FOR REMUNERATION APPROVAL

Task Area General Description Includes

[Est. cost]

Assets Debtors & Secured

Creditor

Discussions with the secured creditor regarding collection of factored debtors

and settlement of their exposure.

$19,349.00 Correspondence to and from bookkeeper regarding debtor details and

required documents.

Various discussions with debtor financial company regarding collection of

debtor and progress.

Prepare and send debtor letters, follow up debtor regarding payment and

payment plans (if requires).

Plant and Equipment Consider realisation options for plant & equipment assets, discuss further

with auctioneers, review assets and sale progress.

Discussions with interested parties regarding sale of assets.

Arrange disclaimers for onerous contracts.

Various correspondence regarding realisation and sale of assets.

Reconciliation of asset sales at conclusion of realisation efforts.

Creditors First creditors meeting Prepare and send first creditor report including notice of first meeting, review

various searches, company management accounts, financials and books

and records.

$9,965.00 Prepare and complete remuneration report and letter for the first creditors

report.

Prepare for first creditors meeting and prepare minutes of the meeting.

Lodged creditor minutes with ASIC online.

Attend to liquidation requirements, review of creditor queries and claims.

Finalisation Prepare and circulate final report to creditors. Prepare for and attend final

meeting (if required).

Prepare and lodge final documents with ASIC.

General Attend to queries from creditors regarding the liquidation, likelihood of a

dividend and outcome of the creditors meeting. Provide requested

information

Employees Entitlements Review priority creditor entitlements and superannuation guarantee charge

records.

$9,139.00 Complete and send entitlement and Fair Entitlement Guarantee letters.

Calculate superannuation guarantee charge amounts for unpaid

superannuation and lodge statements at the ATO. Receive and review

ammended ATO proof of debt in realtion to potentaial priority dividend.

Attend to any enquires from the employees.

Investigations Review of financial

records and recent trading

Communicate with director regarding books and records and recent trading.

$15,728.00 Review and follow up potential preferential payments. Issue recovery letters if

applicable.

Send e-mail regarding completion of Questionnaire and Report as to Affairs,

organise a meeting date for completion.

Review Company records and financials.

Collection of books and

records

Meeting with director regarding Report as to Affairs, books and records and

financial documents.

Statutory Reporting Investigations for and preparation of the 533 report to ASIC including

investigations into insolvent trading, preference payments & other

investigations required by the Corporations Act 2001.

Dividend Review dividend position, bank balance and future receipts and payments in

order to calculate potential dividend distribution.

$8,576.00 Prepare and submit ASIC notices online for the intention to declare a

dividend and request submission of formal proofs of debt.

Adjudicate upon proofs of debt from priority creditors.Review claim from ATO

for unpaid superannuation.

Distribute priority creditor dividend.

Attend to all priority creditors enquires regarding dividend payments and

distribution.

Administration General and Banking Filing, file e-mailing system, photocopying, scanning documents, manage

incoming mail.

$10,177.00 Manage disbursements and data entry of payments and recepts.

Update the website with creditors reports and minutes.

Maintain checklist for the progress of the liquidation.

Taxation Prepare and lodge Business Activity Statements and update BAS register of

payments/refunds.

Cancel GST registration with the ATO.

Advise ATO of finalisation.

Statutory lodgements Prepare and lodge notice of cessation of appointment and copy of receipts

and payments.

Remuneration Manage the remuneration of the Liquidator as approved by creditors.

Books and Records Prepare a list of books and records received from the company by the

liquidator.

Apply to ASIC for the destruction of books and records.

Arrange for the storage and destruction of the company and liquidators

books and records.

TOTAL

$72,934.00

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Page 4 of 4

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Important note: The information sheets contain a summary of basic information on the topic. It is not

Insolvency information for directors, employees, creditors and shareholders ASIC has 11 insolvency information sheets to assist you if you’re affected by a company’s insolvency and have little or no knowledge of what’s involved.

These plain language information sheets give directors, employees, creditors and shareholders a basic understanding of the three most common company insolvency procedures—liquidation, voluntary administration and receivership. There is an information sheet on the independence of external administrators and one that explains the process for approving the fees of external administrators. A glossary of commonly used insolvency terms is also provided.

The Insolvency Practitioners Association (IPA), the leading professional organisation in Australia for insolvency practitioners, endorses these publications and encourages its members to make their availability known to affected people.

List of information sheets • Insolvency: a glossary of terms

• Voluntary administration: a guide for creditors

• Voluntary administration: a guide for employees

• Liquidation: a guide for creditors

• Liquidation: a guide for employees

• Receivership: a guide for creditors

• Receivership: a guide for employees

• Insolvency: a guide for shareholders

• Insolvency: a guide for directors

• Independence of external administrators: a guide for creditors

• Approving fees: a guide for creditors

a substitute for legal advice. Some provisions of the law referred to may have important exceptions or qualifications. These documents may not contain all of the information about the law or the exceptions and qualifications that are relevant to your circumstances. You will need a qualified professional adviser to take into account your particular circumstances and to tell you how the law applies to you.

© Australian Securities & Investments Commission, January 2008 Page 1 of 2

INSOLVENCY INFORMATION FOR DIRECTORS, EMPLOYEES, CREDITORS AND SHAREHOLDERS

Getting copies of the information sheets To get copies of the information sheets, visit ASIC’s website at www.asic.gov.au/insolvencyinfosheets. The information sheets are also available from the IPA website at www.ipaa.com.au. The IPA website also contains the IPA’s Code of Professional Practice for Insolvency Professionals, which applies to IPA members.

© Australian Securities & Investments Commission, January 2008 Visit our website: www.asic.gov.au

Page 2 of 2

Form 535 Corporations Act 2001

Sub regulation 5.6.49(2)

FORMAL PROOF OF DEBT OR CLAIM (GENERAL FORM)

To the Administrator of Rochard Drilling Pty Ltd (in Liquidation) ACN 146 602 824

INSTRUCTIONS This is to state that the Company was on 22 July 2014 and still is, justly and truly

indebted to:

Creditor / company name: ABN:

1. Insert name of creditor here.

(1) (2)

2. Insert creditor’s ABN here or “N/A” if not applicable. In the amount of: GST in claim:

3. Insert debt amount here (inclusive of GST). (3) $ (4) $

4. Insert GST component of claim here.

TO ENSURE THE VALIDITY OF YOUR CLAIM, PLEASE ATTACH APPROPRIATE DOCUMENTATION TO SUBSTANTIATE YOUR CLAIM. PLEASE SEE OVERLEAF FOR FURTHER INFORMATION.

Particulars of the debt(s) are (5):

Date/s Consideration (e.g. goods supplied / services rendered)

Amount Remarks

5. Show here details of goods and services were provided to the Company and remain unpaid for.

6. Do not complete unless you are a secured creditor.

(6) To my knowledge or belief the creditor has not, nor has any person by the creditor’s order, had or received any satisfaction or security for the sum or any part of it except for the following: (Insert particulars of all securities held. If the securities are on the property of the company, assess the value of those securities. If any bills or other negotiable securities are held, show them in a schedule as an attachment to this form).

7. Do not complete this section unless you act for an employee.

8. Do not complete this section unless you act for an employee.

(7) I am employed by the creditor and authorised in writing by the creditor to make this statement. I know that the debt was incurred for the consideration stated and that the debt, to the best of my knowledge and belief, remains unpaid and unsatisfied. (8) I am the creditor’s agent authorised in writing to make this statement in writing. I know that the debt was incurred for the consideration stated and that the debt, to the best of my knowledge and belief, remains unpaid and unsatisfied.

9. Insert date here DATED (9) this ______ day of __________________ 2014

10 .Sign here Signature: (10) Phone:

Name: Fax:

Occupation: Email:

Postal address:

FOR OFFICE USE ONLY

Dividend Expectations: Priority only Unsecured Creditors Unascertained No Class

Priority: $ Unsecured: $ Total Admitted: $

Rejected: $ Comments:

Signed Appointee: File Manager:

Form 532 Corporations Act 2001 Sub regulation 5.6.29

Rochard Drilling Pty Ltd (in Liquidation)

ACN: 146 602 824

APPOINTMENT OF PROXY

Appoint a proxy to vote on your behalf

IMPORTANT PLEASE READ

You can appoint any person over the age of 18 (Option 1) OR the Chairperson (Option 2) to represent you either through a special or general proxy. You can specify on the proxy form how the proxy is to vote on a particular resolution, which the proxy must comply with. This is called a ‘special proxy’. Alternatively, you can allow the proxy to exercise his/her discretion as to how to vote on each of the resolutions put before the meeting. This is called a ‘general proxy’. The Liquidator (or his or her nominee) must not use a general proxy to vote in favour of a resolution approving payment of the Administrator’s / Liquidator’s remuneration.

I / We (Full name of creditor)

of

(Address)

being a creditor of Rochard Drilling Pty Ltd (in Liquidation), entitled to attend and vote at the Meeting of Creditors to be held on Tuesday, 12 August 2014 at 10.00am, hereby appoint:

OPTION 1

Appointee (Full name and address)

As my / our general / special proxy.

OPTION 2 OR □ the Chairperson of the Meeting of Creditors as my / our general / special proxy.

Voting directions ! PLEASE NOTE: If you complete the section below, you are deemed to have appointed a special proxy.

My / Our special proxy shall vote as instructed below:-

FOR AGAINST ABSTAIN

“That the remuneration of the Liquidator for the period 22 July 2014 to 30 July 2014 is determined at a sum equal to the cost of time spent by the Liquidator and his staff, calculated at the hourly rates as detailed in the Remuneration Report to creditors of 1 August 2014, to a capped amount of $8,854.50, exclusive of GST and expenses, and is approved for immediate payment.”

□ □ □

“That the future remuneration of the Liquidator from 31 July 2014 to finalisation is determined at a sum equal to the cost of time spent by the Liquidator and his partners and staff, calculated at the hourly rates as detailed in the report to creditors of 1 August 2014 that will be increased in accordance with the annual Consumer Price Index (all groups) at 31 March each year, to be adjusted at 1 July each year, up to a capped amount of $72,934.00, exclusive of GST and expenses, above which further approval may be required, and that the Liquidator can draw the remuneration on a monthly basis or as required.”

□ □ □

To approve the destruction of books and records of the Company subject to the approval of the Australian Securities & Investments Commission.

□ □ □

Sign This section must be completed

Name of authorised representative:

Date _____ / _____ / ________ Phone: _______________________ Email: _________________________

PLEASE RETURN THIS PROXY, duly completed, to Samantha Hunton via email to [email protected] or via facsimile to

08 9321 0429, or via post to PO Box 622 West Perth WA 6872. Please note that proxy forms received after 5.00 pm on the day before the meeting may not be accepted.

Certificate of Witness

This certificate is to be completed only if the person giving the proxy is blind or incapable of writing. The signature of the creditor must not be witnessed by the

person nominated as proxy.

I, . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . of . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . certify that the above instrument appointing a proxy was completed by me in the presence of and at the request of the person appointing the proxy and read to him or her before he or she signed or marked the instrument. Dated this . . . . . . . . . . day of . . . . . . . . . . . . . . 2014 Signature of Witness: . . . . . . . . . . . . . . . . . . . . . . . . . . Address: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

STEP 2

STEP 3

STEP 1

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Corporations Act 2001 - HLB Mann Judd (Insolvency WA) · Charlie Ransom 13 Alassio Parade Secret Harbour WA 6173 $ 11,315.16 Martau Rapana 13 Paperbark Way Wannanup WA 6210 $ 900.48

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