The North Australia Cattle Company, once one of Australias largest live cattle exporters, has been placed into voluntary administration, with debts owed to trade creditors of approximately $3.6 million.
Notices of the appointment of administrators to North Australian Cattle Company Pty Ltd and its sister company Southern Australian Cattle Company Pty Ltd were published on the Australian Securities Investment Commission website yesterday, Monday, May 31.
Administrators Melissa Lau and Jimmy Trpcevski were appointed to manage NACC and SACC yesterday under section 436A of the Corporations Act which occurs in the event of a company board resolving a company is insolvent or likely to become insolvent at a future time.
In a statement to Beef …
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