IN THE SUPREME COURT OF VICTORIA AT MELBOURNE COMMERCIAL AND EQUITY DIVISION COMMERCIAL COURT CORPORATIONS LIST SCI

Transcription

1 IN THE SUPREME COURT OF VICTORIA AT MELBOURNE COMMERCIAL AND EQUITY DIVISION COMMERCIAL COURT CORPORATIONS LIST SCI IN THE MATTER OF WILLMOTT FORESTS LIMITED (RECEIVERS AND MANAGERS APPOINTED) (IN LIQUIDATION) ACN WILLMOTT FORESTS LIMITED (RECEIVERS AND MANAGERS APPOINTED) (IN LIQUIDATION) ACN IN ITS CAPACITY AS RESPONSIBLE ENTITY OF THE MANAGED INVESTMENT SCHEMES LISTED IN SCHEDULE 2 AND IN ITS CAPACITY AS MANAGER OF THE UNREGISTERED SCHEMES LISTED IN SCHEDULE 3 AND SCHEDULE 4 AND ORS ACCORDING TO SCHEDULE I Plaintiffs AFFIDAVIT OF BRYAN WEBSTER Date of document: 15 May 2012 Filed on behalf of: Prepared by: the Receivers AlIens Solicitor code: Lawyers DX Melbourne 101 Collins Street Tel Fax Melbourne VIC 3000 Ref MWKM (Matthew Whittle) Matthew.Whittle@allens.com.au I, BRYAN WEBSTER of 333 Collins Street, Melbourne, in the State of Victoria, Accountant, do solemnly and sincerely affirm: I am a Registered Liquidator, Certified Practising Accountant and a partner of KordaMentha Pty Ltd (KordaMentha). 2. I have previously affirmed an affidavit in Federal Court of Australia proceeding number VID 386 of 2011 on 17 June 2011 (my First Affidavit) and affidavits in this proceeding on 15 December 2011 (my Second Affidavit), 18 January 2012 (my Third Affidavit), 20 January 2012 (my Fourth Affidavit) and 30 April 2012 (my Fifth Affidavit). I have defined a number of terms in my First Affidavit, my Second Affidavit, my Third Affidavit, my Fourth Affidavit and my Fifth Affidavit and I adopt those definitions in this affidavit. t1l X

2 2 3. I make this affidavit from my own knowledge, except where otherwise stated. Where I state matters on the basis of information provided to me, I believe such information to be true. 4. I am informed.by Matthew Whittle of Aliens and believe that on 30 April 2012, Aliens sent a letter via to Arnold Bloch Leibler, Mills Oakley Lawyers and Lloyd & Lloyd advising them that the Receivers intend to seek that exhibits BW-16 to BW-19 be adduced as evidence of the underlying documents set out in the letter. The material referred to in the letter is voluminous and makes up five folders of documents, which are available to be inspected. I understand the letter gave all recipients the opportunity to inspect the material prior to the hearing on 15 May Now and produced and shown to me and marked BW-20 is a true copy of the letter sent by Aliens to Arnold Bloch Leibler, Mills Oakley Lawyers and Lloyd & Lloyd. 6. I refer to paragraphs 11 and 28 to 36 of my Fifth Affidavit in which I outline the Receivers remuneration the subject of the application. The work undertaken by the Receivers has been charged at the hourly rates set out in the following table. Position $ per hour Principal Appointee I Partner I Executive Director 560 Director 460 Associate Director Associate Director Manager 330 Senior Executive Analyst 300 Executive Analyst 255 Senior Business Analyst 215 Business Analyst 200 Vacationers 170 Administration 150 S

3 7. I believe these rates are generally in line with the charge out rates applied by other insolvency practitioners in Australia. In this regard, I refer to exhibit CDC-59 to the affidavit of Mr Crosbie sworn on 27 April Aliens were selected to act as the Receivers solicitors in relation to the receivership of the Willmott Group for the following reasons: (a) - Aliens has significant experience in acting for receivers in large complex receiverships and in particular in relation to insolvent managed investments schemes; (b) (c) Aliens had previously advised the secured creditors in relation to the Willmott Group prior to the appointment of the Receivers and were therefore familiar with the security documents and the structure of the schemes; and Aliens is a large firm with sufficient resources available to it in order to act for the Receivers in light of the complexity of the receivership. 9. Aliens hourly charge out rates payable by the Receivers are in the following ranges: Position $ per hour Partner $555 - $745 Senior Associate $430 - $545 Lawyer $260 - $420 Law Graduate $260 AFFIRMED by BRYAN WEBSTER at Melbourne in the State of Victoria this of May 2012 day Before me 14~ 4 - hae c+o I 2ooGfrF S CoUMs Wee4 acob GhY Le

4 4 SCHEDULE I - SCHEDULE OF PARTIES WILLMOTT FORESTS LIMITED (RECEIVERS AND MANAGERS APPOINTED) (IN LIQUIDATION) (ACN ) IN ITS PERSONAL CAPACITY AND IN ITS CAPACITY AS RESPONSIBLE ENTITY OF EACH OF THE MANAGED INVESTMENTS SCHEMES LISTED IN SCHEDULE 2 AND IN ITS CAPACITY AS MANAGER OF THE UNREGISTERED MANAGED INVESTMENT SCHEME LISTED IN SCHEDULE 3 AND SCHEDULE 4 First Plaintiff and CRAIG DAVID CROSBIE IN HIS CAPACITY AS LIQUIDATOR OF WILLMOTT FORESTS LIMITED (RECEIVERS AND MANAGERS APPOINTED) (IN LIQUIDATION) (ACN ) Second Plaintiff and IAN MENZIES CARSON IN HIS CAPACITY AS LIQUIDATOR OF WILLMOTT FORESTS LIMITED (RECEIVERS AND MANAGERS APPOINTED) (IN LIQUIDATION) (ACN ) Third Plaintiff,w4

5 SCHEDULE 2- REGISTERED MANAGED INVESTMENT SCHEMES (a) Willmott Forests Project (ARSN ) (b) Willmott Forests Project (ARSN ) (c) BioForest Dual Income Project 2006 (ARSN ) (d) BioForest Sustainable Timber and Biofuel Project 2007 (ARSN ) (e) Willmott Forests Premium Forestry Blend Project (ARSN ) (f) Willmott Forests Premium Forestry Blend Project Project (ARSN ) (h) Willmott Forests Premium Timberland Fund No. 1 (ARSN ) f 10010~

6 n. SCHEDULE 3- UNREGISTERED MANAGED INVESTMENT SCHEMES: PROFESSIONAL INVESTOR SCHEMES (a) (b) Willmott Forests - Professional Investor Project Information Memorandum Willmott Forests - Professional Investor Project Information Memorandum (C) Willmott Forests - Professional Investor Project Information Memorandum (2003) and 2003 Information Memorandum (2004) (d) (e) (f) Willmott Forests - Professional Investor Project Information Memorandum and 2004 Information Memorandum (2005) 2005 BioForest Wholesale Project No Wholesale Forestry Memorandum (Bioforest) Willmott Forests - Professional Investor Project Information Memorandum I

7 SCHEDULE 4- UNREGISTERED MANAGED INVESTMENT SCHEMES: CONTRACTUAL SCHEMES AND PARTNERSHIP SCHEMES Contractual Schemes (a) (b) (c) (d) (e) (f) (g) (h) (i) 1983 (No Project) 1984 (No Project) 1985 (No Project) 1986 (No Project) 1987 (No Project) 1989 (No Project) 1990 (No Project) Interest Only Offer 1991 (No Project) Sharp/Reed Plantation Project Information Memorandum 2001 (No Project) Partnership Schemes (k) McKenzie & Partners - Forestry Partnership No.1 (1993) (I) Grimsey & Associates Pty Ltd - Forestry Partnership No. 1 (1994) (m) Grimsey & Associates Pty Ltd - Forestry Partnership No. 2 (1994) (n) Grimsey & Associates Pty Ltd - Forestry Partnership No. 3 (1994) (o) Mckenzie & Partners - Forestry Partnership No. 2 (1994) 9

8 IN THE SUPREME COURT OF VICTORIA AT MELBOURNE COMMERCIAL AND EQUITY DIVISION COMMERCIAL COURT CORPORATIONS LIST SCl2OII 6816 IN THE MATTER OF WILLMOTT FORESTS LIMITED (RECEIVERS AND MANAGERS APPOINTED) (IN LIQUIDATION) ACN WILLMOTT FORESTS LIMITED (RECEIVERS AND MANAGERS APPOINTED) (IN LIQUIDATION) ACN IN ITS CAPACITY AS RESPONSIBLE ENTITY OF THE MANAGED INVESTMENT SCHEMES LISTED IN SCHEDULE 2 AND IN ITS CAPACITY AS MANAGER OF THE UNREGISTERED SCHEMES LISTED IN SCHEDULE 3 AND SCHEDULE 4 AND ORS ACCORDING TO SCHEDULE I Plaintiffs CERTIFICATE IDENTIFYING EXHIBIT Date of document: 15 May 2012 Filed on behalf of: Prepared by: the Receivers Aliens Solicitor code: Lawyers DX Melbourne 101 Collins Street Tel Fax Melbourne VIC 3000 Ref MWKM (Matthew Whittle) Matthew.Whittle@allens.com. au This is the exhibit marked BW-20 now produced and shown to BRYAN WEBSTER at the time of affirming his affidavi on I y Before me 6ze- 1C46 t2vra.5 10k -* ee# er-e., Lc Exhibit BW-20 Copy of letter from Aliens to Arnold Bloch Leibler, Mills Oakley Lawyers and Lloyd & Lloyd MM

9 Aliens Arthur Robinson l Date 30 April 2012 ASN From To To To Matthew Whittle I Millie Roberts Jane Sheridan and Meagan Grose, Arnold Bloch Leibler jsheridan'ablcom.au mgroseabl.corri.au Mark Bland and Dan Mackay, Mills Oakley Lawyers mbland'millsoakley.com.au dmackay@millsoakley.com.au Patrick See, Lloyd & Lloyd Solicitors pseelloyd-iloyd.com Level Collins Street Melbourne VIC 3000 Australia T F Correspondence GPO Box 1776 Melbourne VIC 3001 Australia DX Melbourne Dear Parties In the matter of WiIImott Forests Ltd (Receivers and Managers Appointed) (In Liquidation) - Supreme Court proceeding number S Cl We attach, by way of service, the affidavit of Bryan Webster dated 30 April 2012, together with the exhibits to the affidavit. Pursuant to section 50 of the Evidence Act 2008 (Vic), the Receivers intend to seek that exhibits BW-16 to BW-19 be adduced as evidence of the following documents: (a) (b) (c) (d) timesheets of the Receivers remuneration; invoices of Aliens Arthur Robinson; invoices issued to the Receivers; and group certificates evidencing wages paid by the Receivers. If you would like to view any of this material prior to the hearing on 15 May 2012, please contact Millie Roberts of our office and arrange a time to inspect the relevant documents. Yours sincer Matthew Whittle Millie Roberts Partner Lawyer Matthew.Whittle@aar.com.au Millie, Roberts@aar.com.au T T Our Ref MKWM: atm, A v This (including all attachments) may contain personal information and Is intended solely for the named addressee. It is confidential and may be subject to legal or other professional privilege. Any confidentiality or privilege Is not waived or lost because this has been serif to you by mistake. If you have received It in error, please let us blow by reply , delete it from your system and destroy any copies. This is also subject to copyilght No part of it should be reproduced, adapted or communicdte without the written consent of the copyright owner. Any personal information in this must be handled in accordance with the Privacy An 1988 (Cth). We may collect personal Information about you In the couse of our dealings with you. Our privacy statement ( tells you how We usually collect and use your personal infomiatron and how you can access It Einails may be Interfered with, may contain computer viruses or other defects and may not be successfully replicated on other systems. We give no warranties In relation to these matters. If you have any doubts about the authenticity of an purportedly sent by us, please contact usinimedlstaly. Bangkok Beijing Brisbane Hanoi Ho Chi Mirth City Hong Kong Jakarta Melbourne Perth Port Moresby Shanghai Singapore Sydney Ulaanbaatat