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Communications

BBY communications

Communications regarding the external administration of BBY Limited and related companies.

Communications regarding the external administration of BBY Limited and related companies.

BBY Communications

21 September 2017: BBY Liquidators' Second Annual Report
Each year during the winding up of a company liquidators are required to either convene an annual meeting of creditors or lodge an annual report with ASIC, providing notice to creditors. We have elected to lodge this second annual report with ASIC and publish a copy on the BBY creditor information on the BBY website. We have sent notification to approximately 6,000 former clients of BBY by email and to 400 possible creditors by post. This report provides an update on and should be read in conjunction with our previous report, dated 9 September 2016.

25 May 2017

Client monies Court directions proceedings
Clients are reminded that monies in the CSAs and other client related recoveries cannot be distributed until the Court has made its final determination. At this stage clients do not need to take any further action and we do not require further documentation from clients. 

‘Erroneous Deposit’ clients
The Liquidators have distributed funds to those clients that had made Erroneous Deposits (received by BBYL after the date of administration, which were made for a purpose which failed, for example in anticipation of future trading that did not occur).

‘Erroneous Withdrawal’ (EW) clients
We refer to our update of 22 November 2016 on proposed distributions on Erroneous Withdrawals (margin calls made on 19 May 2015 in respect of Exchange Traded Options where BBYL did not settle its margin obligation with ASX Clear). These distributions have not yet been paid as a consequence of objections from certain representative defendants in the court proceedings, in light of a potential application to costs of the proceedings among the various classes of clients funds before distributions are made. We shall provide further updates on resolution of this matter.

Equities and ETO clients – Property Entrusted Claims
On 23 May 2017, the Securities Exchanges Guarantee Corporation (SEGC) issued a circular inviting Equity and ETO clients of BBY Limited who might be eligible to claim compensation from the National Guarantee Fund (NGF) to lodge a claim. Clients should contact the SEGC directly on +61 2 8216 0231 or email segc@segc.com.au should you wish to lodge a claim.

25 November 2016: BBY Nominees Liquidators' Annual Report
Each year during the winding up of a company, liquidators are required to convene an annual meeting of creditors (or lodge an annual report with ASIC), providing an account of the conduct of the winding up. This is the first annual report by the Liquidators to the former clients and creditors of BBY Nominees and accompanies notice of a meeting of creditors to be held on 15 December 2016.

9 September 2016: Liquidators' Annual Report
Each year during the winding up of a company liquidators, are required to either convene an annual meeting of creditors or lodge an annual report with ASIC, providing notice to creditors. Given the lack of funds in the liquidations to meet costs of holding a meeting for so many clients and creditors, we have elected to lodge this report with ASIC and publish a copy on the BBY creditor information website. Notification will be sent by email to approximately 30,000 former clients of BBY and by post to 400 possible creditors.

 

More communications

21/09/2017 BBY Liquidators' Second Annual Report (PDF 941KB)
23/05/2017 SEGC Circular to Equities & ETO clients: Property Entrusted Claims (PDF 510KB)
25/11/2016 BBY Nominees Liquidators' Annual Report (PDF 632KB)
22/11/2016 BBY Limited Circular to Clients (PDF 127KB)
17/10/2016 BBY Nominees Circular to clients (PDF 133KB)
22/12/2015 BBY Client Monies Investigation Report and supporting documents
06/11/2015 Notice to Creditors – Court Directions regarding Client Monies (PDF 90KB)
08/10/2015 BBY Nominees: Second Meeting of Creditors Presentation (PDF 1.248MB)
02/10/2015 BBY Nominees Circular to clients (PDF 71KB)
29/09/2015 BBY Nominees 439A Report to Creditors (PDF 1.05MB)
15/09/2015 Notice to Clients: End of year holdings and statements (PDF 53KB)
09/09/2016 BBY Liquidators' Annual Report (PDF 1.03MB)
22/06/2015 Market Update: BBY Group Administrations (PDF 103KB)
22/06/2015 BBY Group: Second Meeting of Creditors Presentation (PDF 1.38MB)
18/06/2015 Market Update: BBY Group Administrations (PDF 110KB)
12/06/2015 Circular to creditors and notice of meeting (PDF 112KB)
12/06/2015 Administrators' report to creditors (PDF 3.2MB)
12/06/2015

Informal Proof of Debt for voting purposes only (PDF 203KB)

12/06/2015

Appointment of a Proxy (Form 532) (PDF 189KB)

27/05/2015 BBY Group: First Meeting of Creditors Presentation (PDF 154KB)
27/05/2015 Declaration of Independence, Relevant Relationships and Indemnities (PDF 117KB)
20/05/2015 Circular: Appointment of Administrators and Meeting of Creditors (PDF 473KB)
20/05/2015

Notice to Clients (PDF 181KB)

20/05/2015 Notice to Creditors (PDF 473KB)

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