Meeting Of Members Of Committee Of Inspection

Caledon Coal Pty Ltd

ACN: 120967839

ABN: 40120967839

Cc Pty Ltd

ACN: 121024271

Published: 9/10/2017

Agenda items are:

  • any other business
  • 1. Update on sale process

    2. Update on conduct of the Liquidation

    3. To consider the following:

    The Committee of Inspection (COI) for CC Pty Limited (In Liquidation) (the Company) resolves that, unless Bank of China Limited Sydney Branch (acting through Brisbane branch) and China Development Bank Corporation in their capacity as the secured lenders to the Company:



    a. consent in writing (within such further period as the liquidators of the Company determine) to the Asset Sale Agreement dated 25 August 2017 between, amongst others, the Company and Bounty Cook Pty Ltd (the Asset Sale Agreement), and to the transactions contemplated or to be effected under the Asset Sale Agreement; and

    b. agree to release at completion of the Asset Sale Agreement any security interests in respect of the assets to be transferred by the Company pursuant to the Asset Sale Agreement,

    the COI for the Company supports the liquidators of the Company disclaiming pursuant to section 568 of the Corporations Act 2001 (Cth) the property of the Company that consists of:



    i. the Asset Sale Agreement dated 22 August 2006 between Cook Resource Mining Pty Ltd, Glencore Coal Pty Limited, the Company and Caledon Resources plc;

    ii. the right, title and interest of the Company in respect of Mining Leases 1779, 1799, 7357, 1768 and 1769 pursuant to the Sublease of Mining Leases 1779, 1799, 7357, 1768 & 1769 between Cook Resource Mining Pty Limited and the Company;

    iii. the Lease of land comprising the Sub Lease of State Leasehold dated 15 May 2009 between Cook Resource Mining Pty Ltd and the Company in respect of title reference 17591175;

    iv. the Lease dated 14 December 2006 between Cook Resource Mining Pty Ltd and the Company of the water allocation of 800 mega litres following the subdivision of water allocation number 302 (Crown Plan AP 6829), title reference 46008602;

    v. the Mining Operator Management Agreement between Cook Resource Mining Pty Ltd and the Company; and

    vi. the Marketing Services Agreement dated 14 December 2006 between Glencore Coal Pty Limited and the Company.



    4. Any other business.

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