Appointment type
Creditors Voluntary Liquidation – 9 May 2025
Deed of Company Arrangement – 9 May 2025
Voluntary Administration – 12 March 2025
Appointment date
12 March 2025
Appointees
Gayle Dickerson and David Hardy
Companies subject to Administration
Jervois Global Limited ACN 007 626 575 (“Jervois”)
Nico Young Pty. Ltd. ACN 132 050 205
Hardrock Exploration Pty. Ltd. ACN 004 800 319
TZ Nico (1) Pty Limited ACN 626 231 267
TZ Nico (2) Pty Limited ACN 626 231 276
Goldpride Pty Ltd ACN 061 269 109
(Collectively referred to as “the Companies”)
Office
Melbourne
Background information
Gayle Dickerson and David Hardy were appointed as joint and several voluntary administrators of the Companies (“Administrators”) on 12 March 2025 pursuant to Section 436A of the Corporations Act 2001 (“the Act”).
Note, for clarity, there are other subsidiaries of the Companies (in particular related to operations in Finland, Brazil and the US) which are not subject to the appointment of Voluntary Administrators. The operations of these other subsidiaries are expected to continue in the normal course and vendors, suppliers, customers and employees of these companies remain unaffected by the appointment of Voluntary Administrators in Australia at the parent level.
The appointment followed the entry of an order by the US Bankruptcy Court for the Southern District of Texas (the “Confirmation Order”) on 6 March 2025 (Houston time) approving the chapter 11 plan of reorganisation of Jervois Texas, LLC and certain debtor subsidiaries (the “Debtor Subsidiaries”) (the “Chapter 11 Plan”). On 28 January 2025 (AEDT), Jervois Texas, LLC and the Debtor Subsidiaries commenced chapter 11 cases (the “Chapter 11 Cases”) by filing voluntary petitions for relief under the US Bankruptcy Code.
This appointment was anticipated as the next step of the restructuring support agreement agreed with the Company’s lender, Millstreet Capital Management LLC (“Millstreet”) and detailed in the Chapter 11 Plan (as approved by the Confirmation Order).
The Administrators now control the Companies’ operations and are assessing the Companies’ financial position. The Administrators intend to continue the operations of the Companies while they undertake this assessment.
Meetings
The first meeting of creditors was held virtually on 24 March 2025 at 10:00am AEDT.
Communications
Information and circulars for creditors of Jervois Group.
Letter to Creditors re Court Orders – 10 April 2025
Letter to Creditors – Extension of Convening Period – 8 April 2025
Support
ASIC Insolvency material
The Australian Securities & Investments Commission (ASIC) provides resources on insolvency for directors, practitioners, employees, creditors and investors.
Visit the ASIC website to find out more.
Fair Entitlements Guarantee (FEG)
You may be eligible for FEG assistance. General information for claimants can be found here:
https://www.dewr.gov.au/fair-entitlements-guarantee.
Beyond Blue
beyondblue offers some useful resources for people struggling with the emotional impact of financial distress. The beyondblue Support Service provides confidential, one-on-one counselling with a trained mental health professional.
Phone: 1300 22 4636
Lifeline
Lifeline offers phone crisis counselling for people who are experiencing financial and emotional hardship.
Phone: 13 11 14 Australia-wide
Online crisis support chat (7:00pm to 4:00am daily)
Appointees
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