According to documents filed with the Australian Securities and Investments Commission, BankWest held a charge over the company’s assets of up to A$20m in October 2000 which was lifted to a maximum of A$50m in July 2001. The bank has said it anticipates full recovery of the monies.
AUSTRALIA: Barrington goes into receivership
The Australian premium wine producer, Barrington Estates, has been placed in receivership. The company, which comprises four wine companies in four different regions, is said to owe its primary creditor, the Bank of Western Australia, some A$25m.