Friday, 31st January, 2014
By Nick Gibbs
The future of the Broken Hill Enterprise Development Centre is in the hands of its creditors who will vote on whether to keep the organisation operational during a meeting next month.
In a statement released late Wednesday from Worrells Solvency and Forensic Accountants, it was confirmed that administrators Aaron Lucan and Nicholas Malanos were appointed on January 20 by resolution of its committee.
Mr Lucan stated that investigations into the organisation were currently ongoing and results were expected to be presented to creditors on February 7, 2014.
Creditors will then be required to pass a resolution regarding the association’s future at a meeting to be held on or around February 14.
Speaking to the BDT yesterday, Mr Lucan said the only information he was willing to divulge at this point was contained in the statement.
Voluntary administration is used to help insolvent companies repay debts by either forming a repayment agreement with creditors or being placed into liquidation.
The EDC is a not for profit organisation designed to support local businesses through consultation, business and strategic planning and training workshops.
According to their website, the EDC can also help analyse cashflow with the business owner and act as a sounding board for those business issues that need to be thought through.
This development follows the exit of former CEO Steve Miller who had been with the organisation since March 2011.
Mr Miller’s departure was confirmed in early January through correspondence with the State Government funded Small Biz Connect and Advocacy Unit which is linked to the Broken Hill program, however the circumstances were not clarified.
“As this is a local issue we have forwarded your details and been advised that the local Broken Hill EDC will contact you as soon as possible to address your enquiry,” an email from Director Wayne Gates stated.
When contacted by the BDT, local staff were unable or unwilling to comment further on the matter.
Before taking on the CEO position, Mr Miller was a financial counsellor for the local Uniting Church’s Centacare.