THE Pastoralists and Graziers Association of Western Australia is preparing to take back control of its affairs now that its creditors have accepted a Deed of Company Arrangement.

Proposed by voluntary administrators RSM Australia, the deed was accepted at the second meeting of creditors held in Perth on March 7.

RSM Australia partners Jerome Mohen and Greg Dudley were appointed as joint and several voluntary administrators of the PGA on January 30 after the PGA executive and committee identified “financial irregularities and a funding shortfall”.

The administrators are now working with the PGA executive to return control of the PGA to the committee in coming weeks, and distribute the deed fund to creditors.

In a statement, Mr Mohen said the decision by creditors provides a path for the PGA to clear debts with creditors and exit voluntary administration.

“The PGA executive and committee, all of whom are volunteers, have been committed throughout the administration process to ensuring the PGA’s important services to the agriculture sector continue, and committed to finding a path for the organisation to exit administration,” Mr Mohen said.

“As a result of proactive engagement from the PGA executive and committee, we’ve been able to put forward a timely solution which provides a better outcome for both the organisation and creditors.”

“We recognise that this outcome is important for the PGA and its creditors, and also important for its members and the wider agricultural community too given the significant role the PGA has played in advocating for the agricultural industry for more than 100 years.”

Source: RSM Australia