Leeuwin Ocean Adventure Foundation - Case Update

We last wrote about Leeuwin Ocean Adventure Foundation in October, when we reported on how administrators John Bumbak and Richard Tucker of KordaMentha were working with purchaser Minderoo Foundation to progress the conditions precedent in the DOCA, at which point control would pass to Minderoo Foundation, and that this process was expected to take 3 months.

The administrators have now advised that the conditions precedent were met and the DOCA was effectuated on 25 March. All unsecured creditors’ claims will now be dealt with in the creditors’ trust.

Read the administrators’ update HERE.