Federal Court places Storm Financial into Liquidation

Released: 26.03.2009

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Liquidators will extend their investigations

Brisbane, March 26: Storm Financial?s Federal Court-appointed Liquidators, Ivor Worrell and Raj Khatri of Worrells Solvency and Forensic Accountants, said today they would continue to work in the best interests of creditors.

"We recognise the responsibility the court has placed on us and we will discharge our duties of winding up Storm Financial appropriately under the Corporations Act," Mr Worrell said.

The liquidators said it remained their view that was necessary for a comprehensive public examination of all relevant parties to be carried out as soon as possible.

"The liquidation process has only now commenced, and therefore it would be premature and inappropriate for us to comment on the possible outcomes of our investigations at this time," Mr Worrell said.

"We will keep all relevant stakeholders, including creditors, informed through correspondence and the Worrells website www.worrells.net.au."

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