“Draft:Condor Blanco Mines Limited”的意思、由来-开放百科全书

Condor Blanco Mines Limited is global mining company, formerly listed on the Australian Securities Exchange (ASX).

In a successful shareholder requisition action that culminated on 5 July 2016, activist investor Joshua Farquhar led a group of shareholders to remove and replace Condor Blanco's entire board of directors and key senior management.

Prior to launching the requisition, Farquhar had obtained a Declaration of Unacceptable Circumstances against the company from the Australian Takeovers Panel.^[1] The Unacceptable Circumstances brought to light by Farquhar in the Takeovers Panel proceedings had caused ASX to suspend the company from quotation on 6 May 2016.^[2] Condor Blanco was never reinstated to quotation.

On 4 July 2016, the day prior to the shareholder meeting held to consider Farquhar's requisition resolutions, with the outcome of that meeting already known due to advance counting of proxy votes, Condor Blanco's former directors had transferred all remaining funds out of the company and placed the company under external administration.^[3] ^[4] ^[5] ^[6]

On 30 August 2016, in a ruling that created precedent, Justice Barrett of the Supreme Court of New South Wales ordered that the external administration had been brought about for an improper purpose and was "invalid, void and of no effect".^[7] ^[8] ^[9] ^[10] ^[11] ^[12] This ruling saw control of Condor Blanco handed to the new shareholder-elected board led by Farquhar, and enabled the conduct of an extensive forensic review of the company's historical transactions and arrangements.^[13]

Condor Blanco's previous managing director, who had been removed by Farquhar's requisition, was later convicted of criminal offences and sentenced to a term of imprisonment.^[14]

On 27 November 2017, the company announced that it had adopted 'safe harbour status' under section 588GA of the Corporations Act 2001 (Cth), claiming certain protections against insolvent trading, and making Condor Blanco the first Australian public company to apply the new safe harbour legislation that had come into effect on 19 September 2017.^[15] ^[16] ^[17]

On 24 August 2018, Condor Blanco announced that in light of material contraventions made prior to 5 July 2016 of the Corporations Act, the company's constitution, and the ASX Listing Rules - contraventions which had come to light as a result of the company's lengthy forensic review - there was no realistic prospect of the company ever being accepted by ASX for reinstated to quotation, and that it was therefore futile for the company to continue to maintain its' ASX listing.^[18] ^[19] Condor Blanco was subsequently removed from the ASX Official List on 28 August 2018.

Condor Blanco's market announcements and reports to shareholders indicate that the company's focus will remain on the recovery of damages from various parties via litigation and other means.

References

1. ^{{cite web|url=http://www.takeovers.gov.au/content/DisplayDoc.aspx?doc=media_releases/2016/035.htm#AnnexA|title=Declaration of Unacceptable Circumstances|last1=Bulman|first1=Alan|date=30 May 2016|publisher=Takeovers Panel|accessdate=16 September 2018}}
2. ^{{Cite web|url=https://www.asx.com.au/asxpdf/20160506/pdf/4372d84j16gdpz.pdf|title=Condor Blanco Mines - Suspension|last=Australian Securities Exchange|date=6 May 2016|website=ASX Market Announcements|archive-url=|archive-date=|dead-url=|access-date=}}
3. ^{{cite web|url=https://www.caselaw.nsw.gov.au/decision/57c387b0e4b058596cb9ee9b|title=In the matter of Condor Blanco Mines Ltd [2016] NSWSC 1196|author1=Barrett AJA|date=30 August 2016|website=NSW Caselaw|publisher=Supreme Court of New South Wales|accessdate=16 September 2018}}
4. ^{{cite web|url=https://insolvencynewsonline.com.au/calabretta-victim-curse-condor-blanco/|title=Calabretta Victim of the Curse of Condor Blanco|last1=Gosnell|first1=Peter|date=31 August 2016|website=Insolvency News|accessdate=16 September 2018}}
5. ^{{cite web|url=http://mininglink.com.au/story/administrators-take-over-condor-blanco|title=Administrators take over Condor Blanco|date=6 July 2016|website=MiningLink|accessdate=16 September 2018}}
6. ^{{cite web|url=https://www.lavan.com.au/advice/recovery_reconstruction_insolvency/a_shopping_list_for_invalidity_and_impropriety_voluntary_administration_of|title=A shopping list for invalidity and impropriety – voluntary administration of listed entities|author1=Alison Robertson|author2=Claire Petersen|publisher=Lavan|accessdate=16 September 2018}}
7. ^{{cite web|url=https://www.caselaw.nsw.gov.au/decision/57c387b0e4b058596cb9ee9b|title=In the matter of Condor Blanco Mines Ltd [2016] NSWSC 1196|author1=Barrett AJA|date=30 August 2016|website=NSW Caselaw|publisher=Supreme Court of New South Wales|accessdate=16 September 2018}}
8. ^{{cite web|url=http://gavinparsonsandassociates.com.au/blog.php?poid=95|title=Dangerous appointments - why section 436A resolutions should not be passed in Kings Cross Hotels|author1=Gavin Parsons and Associates|date=6 October 2016|accessdate=16 September 2018}}
9. ^{{cite web|url=http://briferrier.com.au/news/invalid-appointment-of-administrators-on-grounds-of-improper-motives-of-directors|title=Invalid appointment of administrators on grounds of improper motives of directors|date=9 May 2017|publisher=BRI Ferrier|accessdate=16 September 2018}}
10. ^{{cite news|url=http://www.mondaq.com/australia/x/593532/Insolvency+Bankruptcy/Invalid+appointment+of+administrators+on+grounds+of+improper+motives+of+directors|title=Invalid appointment of administrators on grounds of improper motives of directors|date=12 May 2017|accessdate=16 September 2018|publisher=Mondaq}}
11. ^{{cite web|url=https://insolvencynewsonline.com.au/calabretta-victim-curse-condor-blanco/|title=Calabretta Victim of the Curse of Condor Blanco|last1=Gosnell|first1=Peter|date=31 August 2016|website=Insolvency News|accessdate=16 September 2018}}
12. ^{{cite web|url=https://hwlebsworth.com.au/a-man-walks-into-a-barand-appoints-an-administrator-more-on-validity-of-administrator-appointments/|title=A man walks into a bar…and appoints an administrator – more on validity of administrator appointments|last1=Siva|first1=Polat|date=13 October 2016|publisher=HWL Ebsworth|accessdate=16 September 2018}}
13. ^{{cite news|url=http://www.theaustralian.com.au/business/mining-energy/condor-bl...30k-loss-near-mosul/news-story/b5e02cf79e6730656de0f21fccfd06ec|title=Condor Blanco ‘incoherent’ records show $730k loss near Mosul|last1=Klan|first1=Anthony|date=4 February 2017|publisher=The Australian}}
14. ^{{cite news|url=http://www.theaustralian.com.au/business/mining-energy/condor-bla...arby-jailed-for-rape/news-story/355dab0fe4bed503241ef74918f1fa3b|title=Condor Blanco's managing director jailed|last1=Klan|first1=Anthony|date=16 August 2016|publisher=The Australian}}
15. ^{{cite web|url=https://www.asx.com.au/asxpdf/20171127/pdf/43pmkjzgtn3qln.pdf|title=Adoption of Safe Harbour Status|last1=|first1=|date=27 November 2017|website=ASX Market Announcements|publisher=ASX|archive-url=|archive-date=|dead-url=|accessdate=16 September 2018}}
16. ^{{cite news|title='Safe to fail': Insolvency safe harbours will rescue struggling companies|last1=Katie|first1=Walsh|date=7 September 2017|publisher=Australian Financial Review}}
17. ^{{cite web|url=https://www.intheblack.com/articles/2017/11/02/insolvency-safe-harbour-reforms|title=The latest on insolvency safe harbour reforms|last1=Shabnam|first1=Amirbeaggi|date=2 November 2017|publisher=CPA Australia|accessdate=16 September 2018}}
18. ^{{Cite web|url=https://www.asx.com.au/asxpdf/20180824/pdf/43xnw8lgq8ymp8.pdf|title=Circumstances of removal from ASX Official List|last=Australian Securities Exchange|date=24 August 2018|website=ASX Market Announcements|archive-url=|archive-date=|dead-url=|access-date=}}
19. ^{{cite web|url=https://www.miningnews.net/regulation/news/1343067/condor-blanco-alleges-fraud-by-former-board|title=Condor Blanco alleges fraud by former board|date=24 July 2018|website=Mining News|accessdate=16 September 2018}}
20. ^{{cite news|url=https://www.asx.com.au/asxpdf/20180824/pdf/43xnw8lgq8ymp8.pdf|title=Circumstances of Removal form ASX Official List|last1=Farquhar|first1=Joshua|date=24 August 2018|accessdate=16 September 2018|publisher=ASX}}
21. ^{{cite web|url=https://www.asx.com.au/asxpdf/20180828/pdf/43xrk3fdwc90mz.pdf|title=Response to Shareholder Inquiries|last1=Farquhar|first1=Joshua|date=28 August 2018|publisher=ASX|accessdate=16 September 2018}}
22. ^{{cite web|url=https://www.miningnews.net/regulation/news/1343067/condor-blanco-alleges-fraud-by-former-board|title=Condor Blanco alleges fraud by former board|date=24 July 2018|website=Mining News|accessdate=16 September 2018}}