Access to this information is restricted to shareholders, employees, noteholders or creditors of the company / companies set out in this PwC insolvency case, or representative of such a creditor, or a person engaged by PwC in connection with the PwC case who has been given permission to access this information. To gain access to this information, you have agreed not to communicate any information contained in the Insolvency Cases area relating to the company / companies (which is or may be defamatory) to any person other than another shareholder or creditor of the company / companies.
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Stephen Longley and Craig Crosbie were appointed as Joint and Several Voluntary Administrators of Dixon Advisory & Superannuation Services Pty Ltd on 19 January 2022, pursuant to Section 436A of the Corporations Act.
At the adjourned second meeting of the Company’s creditors held on 16 December 2022, creditors of the Company resolved that the Company execute a Deed of Company Arrangement (DOCA) DOCA. The DOCA was executed on the same day, and lodged with the Australian Securities and Investments Commission shortly thereafter.
Key timeline and next steps
The Deed Administrators are in the final stages of developing the Creditor Portal for distribution purposes (including implementing amendments proposed by members following a demonstration), and anticipate that the Notice of Intention to Declare a Dividend will be issued to Former Client Creditors and other non-client creditors during July 2024.
Further details on the distribution process, including instructions on how to access the Creditor Portal, make a claim in the deed administration, and view a breakdown of each creditor’s loss calculation, along with an update on the estimated dividend amount, will be provided to the relevant creditors at this time.
We appreciate you may still have a number of queries relating to the administration. The Deed Administrators have prepared a Frequently Asked Questions (FAQ) document in relation to the DOCA. A copy of the DOCA FAQ document dated 29 May 2024 can be found in the documents below.
On 27 May 2024, the Deed Administrators received a ‘Notice of Intention to Expel’ Dixon Advisory & Administration Services Pty Ltd (Subject to Deed of Company Arrangement) (DASS) from the membership it currently holds with the Australian Financial Complaints Authority (AFCA). At this stage, the expulsion will likely take effect on and from 30 June 2024.
The implication of the proposed expulsion is that former clients of DASS will not be able to lodge a complaint (and therefore also have their complaint assessed for the purposes of possibly accessing the Compensation Scheme of Last Resort (CSLR)) with AFCA after 29 June 2024 (being the day before the proposed expulsion takes effect).
We understand that any complaint that has already been lodged with AFCA, or is lodged with AFCA before the proposed expulsion, will still be reviewed by AFCA.
Any former client(s) of DASS who have not yet lodged a complaint with AFCA, and believe they have suffered a loss as a result of the misconduct of DASS, should consider lodging a complaint with AFCA before 29 June 2024.
If the expulsion is finalised by AFCA, former clients of DASS will no longer have an opportunity to submit a complaint, or have their complaint assessed for the purposes of accessing the CSLR.
If you wish to explore this further, we recommend you visit AFCA’s dedicated website for DASS’s former clients, which can be found at https://www.afca.org.au/news/current-matters/dixon-advisory-and-superannuation-services-pty-ltd-subject-to-deed-of-company-arrangement
Any queries in relation to AFCA complaints should be directed to AFCA.
| Dixon Advisory & Superannuation Services Pty Ltd | |
|---|---|
| Entity Name | Dixon Advisory & Superannuation Services Pty Ltd |
| Trading Name | Dixon Advisory & Superannuation Services Pty Ltd |
| Appointment Type | Deed of Company Arrangement |
| Appointment Date | Fri, Dec 16, 22 |
| Contact Name | au_dass_queries@pwc.com |
| Contact Email | au_dass_queries@pwc.com |
| Contact Phone | +61 |
| Contact Address |
|
| Australia Company Number | (ACN) 103071665 |
| Australian Business Number | (ABN) 54103071665 |
| Appointee(s) |
Stephen Longley Craig Crosbie Rebecca Gill |
Access to this information is restricted to shareholders, employees, noteholders or creditors of the company / companies set out in this PwC insolvency case, or representative of such a creditor, or a person engaged by PwC in connection with the PwC case who has been given permission to access this information. To gain access to this information, you have agreed not to communicate any information contained in the Insolvency Cases area relating to the company / companies (which is or may be defamatory) to any person other than another shareholder or creditor of the company / companies.
You indemnify PwC and its related companies in respect of any liability to which they are exposed in the event that this declaration is false and as a consequence of that falsity.