The Registrar of Aboriginal and Torres Strait Islander Corporations has today appointed a special administrator to Gap Youth Centre Aboriginal Corporation in Alice Springs.
The directors of the corporation unanimously passed a resolution on Friday 1 February 2008 requesting that the Registrar appoint a special administrator as soon as possible.
An accounting examination of the centre concluded in December 2007 that the centre was unable to pay its debts, and therefore insolvent. Under the Corporations (Aboriginal and Torres Strait Islander) Act 2006, corporations must not trade while insolvent.
The corporation made the decision to cease trading as of 22 January 2008.
The special administrators, Gerard Mier and Anthony James Jonsson of KPMG, have been appointed for an initial period of six months. Creditors or members seeking further information should contact the administrators on (07) 4046 8888.
‘We are keen to restore solvency as soon as possible, as well as ensuring effective accounting and reporting systems are put in place,’ Mr Anthony Beven, the Registrar of Aboriginal and Torres Strait Islander Corporations, said today.
‘The administrators will adopt a consultative approach, seeking input from members of the corporation and an elected advisory committee. The Gap Youth Centre has been an iconic part of Alice Springs for many years and I hope that with the assistance of the administrators, it will be for many more years to come.’
The Gap Youth Centre provides recreational, sporting and culture activities for the youth of Alice Springs, especially Indigenous youth. This includes holiday programs and a drop in centre.
Toni Matulick 0419 292 755
4 February 2008
ORATSIC MR0708-03
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