G'day fellow ADX'ers.
Many of you (ADX'ers) won't be familiar with my blog, but hopefully it can be put to good use.
Back in 2001 ADX was wound up. This was a sorry event for all those who had invested so much (either in equity or passion). A receiver, PPB, was appointed. Not all staff entitlements (e.g. redundancy / holiday pay etc.) were covered in full.
It now appears PPB is in a position to make a final distribution of $500,212.25 to ADX employees. This will be further reduced pro-rata at 62cents in the dollar.
The following ADX staff are on record as being entitled to a final payment. I have lost contact with many of the staff but I include the last known email address. If you are able to update any of this information (or indeed if you were a manager of any of these staff) please let me know.
PPB has spent 900K on litigation funding, 691K on legal fees and already had approval for their own fees (in priority to staff) of 166K. PPB will now seek another 200K approval in fees.
Another way to look at this is 366K for PPB in fees and 500K at .62 = 310K for all ex ADX staff.
Makes you wonder who the real winners are?
Any insolvency is sad. Suppliers are bitten as unsecured creditors - for some a settled invoice from ADX made the difference between booking a profit or a loss in the annual accounts. Likewise our equity investors - from staff to family, friends and professional contacts.
I must also put in a word of praise for Ralph Doubell who has been a rock through this process. No doubt this has been a loadstone around his neck all the while these proceedings have been dragging on. Peter Meacham also deserves a note for his continuing efforts for staff and creditors.
Please let me know what I need to update. (best email address for me is scott.riley@au.fortis.com).
If people could check their facebook or LinkedIn or other networks for contacts (good thinking Olivier Gueris) it might help to close a few gaps.
Peter Meacham advises that if we don't claim the money it just gets set aside and sits in an "unclaimed money" pot. So please make an effort.
For those of you who wish to remain anonymous you can contact Farnaz Bassiri at PPB (switch +61 (0)2 8116 3000) directly on +61 (0)2 8116 3142. She can confirm any entitlement with you directly.
Would I do it again? In a heart-beat. You ADXers were great. And for a while, the SFE even respected their customers.
ADX...Trade Smarter!
ADX Contact List
Last Name First Name E-mail Address Validated
Bakar Iwan iwanbakar@hotmail.com RV
Bishop Alan albytales@hotmail.com Undeliverable
Brown Grant perebus@hotmail.com
Browne David d.browne@live.com.au He's alive!
Bushell Erin ebushell@kingsecurity.com.au Undeliverable
Choy Harold choy_harold@yahoo.com RV
Crisp Frank frankcrisp@hotmail.com CL
Curtin Sean curtin_sean@hotmail.com SR
de Castro Marcio mcastro@bmf.com.br SR
Deeb Simon simondeeb@yahoo.com RV
Donohoe Chris cdonohoe@pmcapital.com.au OG
Doubell Ralph
Farquhar Andrew andrew.farquhar@db.com TG
Franklin Brendan
Gavran Marijana mgavran@optusnet.com.au CL
Gray-Buchanan Lachlan lbuchanan@servcorp.com.au JG
Grob Toby tobygrob@hotmail.com SR
Gueris Olivier ogueris@hotmail.com SR
Haran A
Heilig Caryl heiligs@one.net.au Undeliverable
Herron John jherron21@hotmail.com SR
Hirner Michael hirnerm@ramsayhealth.com.au SR
Hossain Mesbah mesba@hotmail.com
Jaffry Syed syed.jaffry@phillipsfox.com Undeliverable
Karozis Tass tkarozis@mfglobal.com SR
Kuzmanic Anita akiseli@optusnet.com.au MG
Lo'Surdo Angela alosurdo@leveraged.com.au SR
Lyall Cathryn cathryn.lyall@googlemail.com SR
Malhotra Anand anandmalhotra@hotmail.com SP
McKenzie Jessica jessgillet@gmail.com OG
Meacham Peter peter.meacham@key.com SR
Morris Emily emily@chicanemarketing.com.au CL
Nadal Daniel daniel_nadal@hotmail.com SP
Nunn Ian ian.nunn@rabobank.com SR
Pagewood Matthew matthewpagewood@yahoo.com SR
Paterson Kieron kieron.paterson@sungard.com JG
Punjabi Saurabh saurabh_punjabi@yahoo.com SR
Riley Scott scott.riley@au.fortisclearing.com (Dec '09)
Ripple Ron r.ripple@curtin.edu.au (Dec '09)
Roberts Laura laura_roberts22@hotmail.com Undeliverable
Robinson Bruce sydney.2000@bigpond.com RV
Shaw Michael michaels@ccruk.com SR
Smith S
Souris Felicia felicia.1@bigpond.com SR
Stephens Jarron jarron.stephens@meatmarket.hk SR
Tsiaousias E
Turner Johanna johanna.turner@macquarie.com SR
Uh David mudaepo_10@hotmail.com
Uskovic Mirko incubus@connect.net.au Undeliverable
Volzke Clint cvolzke@live.com.au RV
Volzke Richard richard_volzke@hotmail.com RV
White Barry barry.white@patsystems.com SR
White Peter peterwhite74@hotmail.com SR
Widjaja Josef josef.widjaja@gmail.com RV
Woods K
Woods Peter peter.woods@mailcity.com Undeliverable
(Note: the initials after an email address indicate the source of validation)
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