EA Voluntary Administration: Next Steps & Further Information
Further to the news that Equestrian Australia entered into voluntary administration with KordaMentha on 9 June 2020, the Administrators have developed a page on their website for EA creditors and members alike.
The next step of the Administration process is the First Meeting of Creditors, which is scheduled to be held on Friday 19 June at 10.30am EST (10am CST) via Microsoft Teams. The purpose of this meeting is to determine:
- Whether to appoint a Committee of Inspection
- If so, who are the committee’s members.
At this meeting, creditors may also resolve to remove KordaMentha as Administrators and appoint someone else.
As financial members of Equestrian SA, you are considered a creditor and will be admitted to vote for $1 in recognition of the unexpired portion of your annual membership. You do not need to complete a Proof of Debt to attend the first meeting.
ESA strongly advises that all members participate in the meeting and have your voices heard.
If you would like to participate in the meeting and vote on the resolutions, you must:
- Complete the Notice of Electronic Facilities for Meeting and submit it by no later than 10.00am Thursday 18 June 2020. This form will give you access to attend the meeting of creditors on Friday 19 June.
- If you are unable to attend the meeting personally, you may appoint a ‘proxy’ to vote on your behalf, by completing this Appointment of Proxy form and emailing it to [email protected].
- If you would like to appoint an ESA representative to vote on your behalf, please assign the proxy to "Wendy Schaeffer" of "South Australia," in section 2 of the form.
Finally, as the meeting will be held electronically, the vote will be via poll. Voting by poll via an online conference will be difficult and time consuming, as such creditors are encouraged to submit a special proxy prior to the meeting, which indicates how you wish to vote. The special proxy is completed using the same proxy form as above and must include your name/name of proxy, address, phone and/or email so that you may be contacted in the event that you are not present at the beginning of the meeting.
Following the first meeting, the Administrators will assess the organisation and complete a detailed report. Creditors will be notified of a second meeting in due course. The purpose of the second meeting will be to vote on the future of EA, as presented in the report.
In addition to the above, ESA would like to reassure members of the following:
- EA is currently solvent.
- EA’s current insurance policies will continue, and the Administrators have appointed Gow Gates for the purpose of placing insurance cover for the period 1 July 2020 to 30 June 2021. Once cover has been finalised, members will be notified.
- Voluntary Administration has no effect on competition, rules or the services provided by the State Branches.
- All members are being encouraged to participate and contribute their ideas about the changes that are required to ensure EA is a viable, representative, democratic and stable national sporting organisation.
For further details about the process with KordaMentha and the first meeting of creditors, please see the following resources:
- KordaMentha – EA: https://www.kordamentha.com/creditors/equestrian-australia-limited
- Frequently Asked Questions – Members: https://www.kordamentha.com/getmedia/c76011e5-4f79-4398-8828-e3f8792efc00/Frequently-Asked-Questions-for-members
- Circular to Creditors: https://www.kordamentha.com/getmedia/ab31ea2f-8d92-40f8-ae0c-ccca37ca44a4/Circular-to-Creditors
- Notice of Electronic Meeting: https://www.kordamentha.com/getmedia/1300d4f4-06eb-4d57-82e2-a4d3a08e725b/Notice-of-electronic-facilities-for-meeting
- Proxy Form: https://www.kordamentha.com/getmedia/09ec49fc-bfe5-46ca-a36c-2d1835b0126e/Proxy-Form
Newsletter
