December 23, 2020

Phoenix Rising

"He who was but now the sire 
comes forth from the pyre the son and successor; 
Between life and life lay but that brief space 
wherein the pyre burned."    
The Phoenix by Roman poet Claudian, 4 AD

Phoenixing of property from Wollumbin Horizons to NCV Enterprises enables the promotors of the Nightcap land-share scheme to continue the same business of selling pre-DA dwelling sites, while divesting liability to creditors from 2014-2021.



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NOTICE TO CREDITORS AND INTERESTED PERSONS

    RE: WOLLUMBIN HORIZONS PTY LTD (IN LIQUIDATION) ACN 606 581 364 (“COMPANY”)
3222 KYOGLE ROAD, MOUNT BURRELL, NSW (“PROPERTY”)

I refer to my previous reports and circulars to creditors and interested persons in relation to the abovenamed Company and Property of 21 June 2019, 23 August 2019, 6 November 2019, 12 March 2020, 24 April 2020 and 25 June 2020.

On Friday, 19 June 2020 the Property was sold at public auction for $2million, and I confirm that a 10% deposit ($200,000) for the purchase of the Property was paid into my real estate agent’s trust account.

The purchaser of the Property through their legal advisors has sought a one month extension to the settlement date under the contract. On considering this request, I agreed to the requested extension of the settlement date on the basis that the purchaser contributed a further 5% deposit (being a further deposit of $100,000) towards the purchase price of the Property.

I confirm that the additional 5% deposit requested has been received and I expect that settlement for the Property will now take place on Monday, 19 October 2020 in accordance with the (amended) sale contract.

If you have any queries, please contact Damien Davis (ddavis@vincents.com.au) of this office on (07) 3228 4260.

DATED this 1st day of September 2020.

STEVEN STAATZ

LIQUIDATOR OF WOLLUMBIN HORIZONS PTY LTD (IN LIQUIDATION) AND RECEIVER OF THE REAL PROPERTY SITUATED AT 3222 KYOGLE ROAD, MOUNT BURRELL, NSW

 

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