Douglas Aerospace statement

Council meets with Douglas Aerospace administrator - 5 May 2015

Representatives from Wagga Wagga City Council met today with the administrator of Douglas Aerospace, Andrew Wily from Armstrong Wily.

“Mr Wily informed Council he was investigating the affairs of the company in accordance with his obligations and intended for Douglas Aerospace to continue to trade during the voluntary administration period,” Council’s General Manager Phil Pinyon said.

Council is a creditor of Douglas Aerospace for $2.1 million and has been monitoring the financial position of the company. Council only became aware of the appointment of an administrator on 4 May.

“Council holds security over the assets of Douglas Aerospace, which is not effected by the appointment of the administrator,” Mr Pinyon said.

“Council has requested further information from the administrator before making any further decision or taking any further action.”

A first meeting of creditors is likely to be held in Sydney on 12 May 2015 and a report will be issued by the administrator to creditors.

All enquiries in relation to the administration of Douglas Aerospace should be referred to Armstrong Wily.