Media Statement
For Immediate Release

17 August 2011

A J Mayr to Close

Tomago based steel fabricator, A J Mayr Engineering (NSW) Pty Ltd, was placed into Voluntary Liquidation on 16 August 2011. The move follows financial difficulties with a project for the Newcastle Coal Infrastructure Group.

Unsecured creditors are owed approximately $2.9million. Employee entitlements, including notice and redundancy, are estimated to be in the amount of $785,000.

Liquidator, Raymond Tolcher of Lawler Partners, said“We will be seeking a purchaser for the plant and equipment, including possible assignment of the lease to maximise a return to creditors”.

“Employee creditors have a priority of payment under the Corporations Act. In the event that the realisations from asset sales and other recoveries are insufficient to allow a priority distribution to employees, we will be liaising with the Department of Education, Employment and Workplace Relations in relation to payments under the General Employee Entitlements & Redundancy Scheme (GEERS)".

GEERS aims to provide a safety net for the basic protection of employee entitlements when employment has been terminated as a result of insolvency.

ENDS

For further information contact Partner Ray Tolcher (02) 4962 2688