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BARRON ENTERTAINMENT LIMITED (BAE)

Delisted from ASX 01/09/2003

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company deregistered

20/03/2009

ASIC has banned Mr John Bardin Davis, of Malvern, Victoria, from managing corporations for three years - ASIC alleges Mr Davis failed to exercise his powers and duties as a director of the companies with reasonable care and due diligence in failing to maintain adequate financial records and ensure the companies didn't trade whilst insolvent

28/02/2006

according to a release by IMF (Australia) Limited, it is funding an insolvency action against the directors with a maximum claim value of $2m and it expects the case to be completed by 31 December 2006

05/01/2005

court extends the time allowed to file a defence by the Barron directors to 17 December 2004

03/12/2004

Barron directors given an extension of time to file their defences until 5 August 2004

05/05/2004

the liquidators of Barron Entertainment Limited (BEL) and Barron Television Limited (BTV) commenced proceedings against two former directors of the companies, Paul Douglas Barron and David James Humann - in those proceedings they claimed damages said to have been suffered by unsecured creditors of the companies when the companies incurred debts at a time when they were insolvent (and what about the shareholders??)

16/12/2003

a loss declaration has been issued and the capital loss can therefore be claimed in the financial year the declaration is issued

08/09/2003

delisted following failure to pay annual listing fee

01/09/2003

the company has not paid its annual listing fee - it will be removed from the official list on 1 September 2003 if it does not pay the fee by Friday Aug 29

25/08/2003

liquidator is still furthering investigations into the conduct and affairs of the Company prior to the appointment of Administrators - this process is a lengthy one and it cannot be estimated when it will be completed - liquidators cannot issue shareholders with a notice that their shares are worthless at this stage

04/07/2003

seeking update from liquidator

03/07/2003

liquidators continue to pursue legal actions and confirm that it is unlikely they will be in a position before 30 June 2003 to either issue a liquidators declaration or to return the company to administration and seek shareholder approval to sell the company shell

21/02/2003

liquidator begins examination of company's directors in the Federal Court in Perth - this should help the liquidators to assess the prospects of various asset recovery proceedings

10/12/2002

liquidator advises he is still conducting investigations into the possibility of legal action

23/09/2002

there has been no release to the market since the company appointed administrators in July 2001 - we await a report on developments since

10/09/2002

company goes into liquidation

01/02/2002

directors advise they have appointed V Smith and B Hughes of Norgard Clohessy as administrators

24/07/2001

directors believe the company has a viable future and that the short term issues facing the company can be resolved

24/07/2001

company confirms that it has concluded agreements regarding the sale of copyright in part of its film and television library to a Melbourne-based company, Arts Film Rights Pty Ltd

10/05/2001

company has negotiated a separate loan facility agreement to provide interim working capital

10/05/2001

board confirms that it has received "written confirmation of agreement in principle" regarding the sale of various film and television library assets

02/04/2001

shares suspended from quotation pending an announcement and release of half yearly report

16/03/2001

name changed from Barron Films Limited

21/10/1994

ASX Announcements (courtesy of ASX)

 

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So what happens to the shareholders' interest?07/03/2013 15:13:44

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