"We wish to advise members that Ian Charles Francis was appointed as Receiver ("Receiver") of Yindjibarndi Aboriginal Corporation ("YAC")
The Receiver has now taken control of the operations on YAC. The purpose of the appointment is to ensure that YAC's 'property and resources are not used or allowed to be used, directly or indirectly to help a candidate in the election for directors' which will occur at the general meeting of YSAC to be held on 19 April 2016 ("Meeting"). The Receiver's intention is to maintain and preserve the assets and affairs of YAC until further order of the Supreme Court of Western Australia or until the conclusion of the Meeting.
An important effect of the Receiver's appointment is that the Receiver currently has control of YAC's assets and affairs. The WA Supreme Court has determined that YAC currently has no validly appointed directors, and as a a consequence of the appointment of the Receiver, the executives of YAC must not deal with, and have no power over, the assets of YAC without the Receiver's prior approval
A further update will be provided to members at the Meeting on April 19 2016. In the meantime, if members have any questions relating to the Receivership, please contact FTI Consulting on (08) 9321 8533."
NOTICE OF GENERAL MEETING Called by the Registrar of Indigenous Corporations under section 439-10(1)(d) of the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (the CATSI Act).