Panel Publishes Decision and Reasons in Pasminco
The Panel advises that it has, by majority, granted conditional relief in response to an application by the Administrators of Pasminco (in their capacity acting for the principal creditors of Pasminco (Creditors)). The application relates to the possible restructure of the Pasminco group of companies by one or more Deeds of Company Arrangement (Deed) under Part 5.3A of the Corporations Act (Act). On 19 September 2001, the directors of Pasminco appointed the Administrators. Pasminco's shares are suspended from trading.