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Circular to Creditors

Wine Investment Services Pty Ltd ACN 121 915 366 (Receivers and Managers Appointed)

(In Liquidation) (“the Company”)

I advise that Chris Honey and I were appointed Joint & Several Liquidators of the above Company on 10 October 2013.

Meeting of Creditors

The meeting will be held on Friday 25 October 2013 at 9:30 AM at Cliftons, Level 13, 60 Margaret Street, Sydney NSW 2000. Accordingly, I attach:

+ a statutory notice convening the meeting (Form 529);

+ a list of creditors of the Company;

+ information for attending and voting at a meeting of creditors;

+ a Proof of Debt form (Form 535), along with an information sheet to assist you to complete the form;

+ a Proxy form (Form 532) and instructions; and

+ a Committee of Inspection authorisation of representation form and Confidentiality Acknowledgement.

Attendance and voting requirements

Creditors who intend to vote at the meeting are requested to lodge a proof of debt with my office by 5 pm, Wednesday 23 October 2013. Creditors who are unable to attend the meeting and wish to be represented, should ensure that either a proxy form, power of attorney or evidence of appointment of a company representative pursuant to Section 250D of the Corporations Act 2001 (“the Act”) is validly completed and provided to me prior to the meeting. If a faxed copy of a proxy or power of attorney is provided to me prior to the meeting, the original of the instrument must be received within 72 hours of receipt of the faxed copy. Alternatively, proxy forms can be emailed to [email protected] Proxy forms lodged via email must be validly executed by signing and scanning the completed form.

Corporate creditors who wish to attend the meeting should note that they may only be represented by an individual if that person is validly granted a proxy or power of attorney by that corporation, or appointed as a company representative pursuant to Section 250D of the Act.

Summary of Affairs of the Company

We have requested that the officers of the Company provide us with a Report as to Affairs of the Company. We are yet to receive this report but once we do, we will provide it to creditors.

Declaration of Independence, Relevant Relationships and Indemnities

In accordance with Section 506A of the Corporations Act 2001 and Section 506A of the Act and the Insolvency Practitioners’ Association of Australia (“IPA”) Code of Professional Practice, a Declaration of Independence, Relevant Relationships and Indemnities is enclosed for your information.

This declaration discloses information regarding our independence, any prior personal or professional relationships with the company or related parties and any indemnities received in relation to this appointment.

D14-131011-DAVITLT01-Circular to Creditors 1st Meeting-JT

mailto:[email protected]

Remuneration

The Joint & Several Liquidators’ remuneration can only be fixed by resolution of creditors, a resolution of a committee of inspection or by application to the Court. Approval will be sought in advance for the Liquidators’ remuneration in the sum of $100,000 exclusive of GST, at the abovementioned meeting of creditors.

As outlined, remuneration can and will only be drawn on the basis of the time actually expended.

In accordance with Section 499 of the Act and the IPA’s Code of Professional Practice, a Schedule of Remuneration Methods and Hourly Rates and detailed Remuneration Report is also enclosed for your information. The amount of approval sought is for the scope of works as listed in the attached remuneration report.

Committee of Inspection

A person may only serve as a member of the Committee of Inspection if the person is:

a) a creditor of the company personally; or

b) the attorney of the creditor under a general power of attorney; or

c) authorised in writing by the creditor.

Corporate creditors should note that any authorisation for a specified individual to represent that corporate creditor on the Committee of Inspection (should one be elected) is required to be executed in the same manner as a proxy.

For further information about this engagement, please refer to the website www.mcgrathnicol.com

A copy of the “Insolvency information for directors, employees, creditors and shareholders” information sheet issued by the Australian Securities & Investments Commission (“ASIC”) is enclosed for your information.

If you require any further information, please contact Johnathon Tawil of my staff on 02 9338 2607. Dated: 17 October 2013

Shaun Fraser Joint & Several Liquidator Enclosures: Statutory notice to convene the meeting List of creditors Information for attending and voting at a meeting of creditors Proof of Debt form with instructions for its completion Proxy form and instructions Declaration of Independence, Relevant Relationships and Indemnities Schedule of Remuneration Methods and Hourly Rates Remuneration Report ASIC “Insolvency information for directors, employees, creditors and shareholders” information sheet Committee of Inspection and Confidentiality Agreement

http://www.mcgrathnicol.com/

FORM 529

Corporations Act (2001)

Subregulation 5.6.12 (2)

NOTICE OF MEETING OF CREDITORS

Wine Investment Services Pty Limited (In Liquidation) ACN: 121 915 366 (“the Company”)

Notice is given that a meeting of the creditors of the Company will be held at Cliftons, Level 13, 60 Margaret Street, Sydney NSW 2000 at 9:30 AM on Friday, 25 October 2013. 1. To consider any matters arising out of the Liquidation and the report by the Liquidators. 2. To approve the remuneration of the Liquidators. Dated 17 October 2013.

Shaun Fraser Joint & Several Liquidator

McGrathNicol Level 31, 60 Margaret Street, Sydney NSW 2000

Telephone: +61 2 9338 2600 Facsimile: +61 2 9338 2699

Wine Investment Services Pty Ltd (In Liquidation) Creditor Listing

Operational Creditors

Name Balance

AGL 7,107

ASIC 236

Bluestar Beverages TBA

Peter Doyle Cellars TBA

Investor Creditors

First Last Balance

Maria Healey 51,085.77

Arthur Ban 32,147.72

Butali Pty Limited Michael Inglis Superannuation Fund 23,690.94

Tony Lane 21,844.06

Brian Wright 20,761.92

Darren Sargeson 13,612.69

Ross Coldwell 11,056.75

Nikki Ellis 10,372.25

Stephen Goldner 9,912.01

Sheila King 9,721.90

Glenn & Renee Wright 9,599.62

Daniel Hasofer 8,305.75

Ananth Siva 8,227.53

Nigel Wesley 8,153.23

Russell Paterson 7,623.14

Jan & Philip Grice 7,515.86

Mark Widdup 7,352.19

Anne Patch 7,117.11

Brett Gilbert 7,116.66

Fraser Clayton 7,036.80

Chris Thorpe 7,006.11

Keira Czarnota 6,850.82

George Papaconstantinos 5,713.11

Michael Campbell 5,712.94

Andrew Mcinnes 5,706.54

Timothy Hanckel 5,531.35

Laurence Fagan 5,352.14

Rocco Cacia 5,306.90

Rayna Heckenberg 5,230.76

Amanda Dawson 5,201.29

Dennis Breen 5,198.19

Celestino Cavallo 5,138.04

Chris Devane 5,092.14

Peter Beech & Jennifer Jordan 4,955.62

Lieutenant Colonel Bruce Jennings 4,926.75

Fanny Ho 4,840.74

Daren & Wendy Trewin 4,814.66

Danny Roberts 4,632.68

Erik Janssen 4,495.64


Betty Lee 4,481.47

Merv Gibbons 4,435.18

Lynne McConachie 4,416.09

Alex & Paul Menzies 4,260.75

Shane Ziebell 4,243.80

Matthew Young 4,132.77

Michael Trachtenberg 4,103.83

John Stalker 4,018.07

Mark Johnson 3,889.20

Eric Schick 3,768.92

Thomas Kalup 3,684.00

Bruce Peat 3,589.60

David Hipsley 3,571.74

Thomas Hayward 3,471.77

Deborah Wright 3,377.36

Ben Leishman 3,326.86

Glen Tattersall 3,130.74

Peter Clark 3,097.87

Somnuk Phonesouk 2,998.42

Rick & Lynne Moore 2,984.10

Geoff Taylor 2,932.26

Peter Brecknock 2,916.90

Bjorn Waern 2,788.73

Weng-Kee Hoh 2,747.81

Greg Slater 2,745.12

Patrick Doyle 2,740.53

Phillip Tomal 2,727.11

Derek Young 2,710.31

Michael Bell-Turner 2,658.81

Jon Thomson 2,646.20

John Gill 2,629.55

Paul Frost 2,532.78

Steve Griggs 2,432.25

Nicholas Cooke 2,410.72

Brad Robinson 2,372.37

Judy & Morris Nichols 2,372.37

Mary Werick 2,339.67

Anthony Lombardi 2,327.76

Jenny Scott 2,276.88

Mohamed Ali 2,276.68

Ken Wood 2,268.09

Desley Pidgeon 2,253.29

Nick Newton 2,188.05

Kerryn Green 2,163.81

Glenn Huxley 2,137.74

Nick Wright 2,123.79

Richard Faris 2,123.01

Barry Ricketts 2,119.86


Yuan Liu 2,049.24

Gary & Anne Ridley 2,043.60

Badru Khamis 2,030.38

Simon Lodge 2,024.55

Luke Walker 1,992.89

Luke Selfe 1,984.51

R. Nettle 1,965.08

Brian Buckley 1,903.65

Goba Katuwal 1,899.81

Stephen Komnacki 1,868.50

Chiou Tay 1,863.33

Darren Starling 1,856.14

David Hutchins 1,852.12

Danny Huang 1,851.33

Trent Allen 1,821.59

Trevor Glover 1,815.00

Matthew Kennedy 1,814.05

Alex Williams 1,766.86

Scot Walker 1,744.30

Peter White 1,742.48

Ian Paton 1,679.90

David Williams 1,675.20

Janet Elms-Smith 1,666.72

Corey Short 1,660.75

Tri Duc Nguyen 1,660.52

Peter Harrington 1,641.99

Ian Girvan 1,637.46

Richard Lancaster 1,616.33

Graham Moult 1,587.97

Chris Gallant 1,587.61

Neil Evans 1,546.82

Julie Walker 1,526.87

Craig Huddy 1,503.78

Mathew Katakis 1,501.80

Donna Gray 1,499.00

Brett Lambert 1,495.22

Merryl Lees 1,485.99

Alan Bailey 1,475.32

Edwina & Steven Rapley 1,450.61

Rodney Youngberry 1,409.28

Lawrence Kennedy 1,396.32

Bryan Thurling 1,388.20

Lian Chua 1,379.21

Bruce Kennedy 1,377.92

Julian Slater 1,360.98

Janine Banks 1,355.64

Stephen Martin 1,336.61

Bill Mills 1,310.82


John Hall 1,290.10

John Gerli 1,252.78

Thanakorn Leelathayphawan 1,250.69

Todd Adler 1,249.81

Stanley Ng 1,223.21

David Mandel 1,196.79

Natasha Fabulic 1,178.40

Frank Nheu 1,173.56

Eugene Fernandez 1,170.28

Jas Saluja 1,170.28

Gavin Taylor 1,170.28

Stephen Skulley 1,152.09

John Dickson 1,137.00

Lucia Fonti 1,126.08

Mark Hunt 1,122.94

Michael Broderick 1,119.04

Geoffrey Boyton 1,108.30

Tony Foate 1,105.72

Marianne Van Schoten 1,103.20

Trevor Hart 1,067.56

Michael Moses 1,055.69

Tsoukas Superannuation Fund 1,038.72

Mike Davenport 1,026.62

Robert Strange 1,004.46

Karen Coleman 996.45

Kent Pilkington 989.04

Vijayakumar Halagali 973.56

Troy McArthur 966.93

Roger Leang 956.63

Glenn Lambert 945.99

Paul Page 934.32

Chris Pilz 904.65

James Stavropolous 904.42

Yvonne Rayner 888.28

Eddie Bender 869.92

Lindsay Gazal 867.38

Hayden Thomas 863.96

Scott Raymond 847.32

Erifili Davis 825.48

Alan Liu 820.48

Rod Hayden 797.98

Tim Rich 793.64

Robert Louie 791.89

Peter Edwards 769.46

Ben James 756.32

Dennis Brandt 732.03

John Weekley 715.71

Michael Pont 703.71


Peter Gardiner 695.76

Joseph Chan 692.87

Matthew Hannan 691.06

Dennis Banks 677.82

Greg Emmett 669.93

Alan Evans 661.76

Ann Cracknell 630.90

Fiona Brown 593.39

Matthew Daly 577.80

Paul Zancolich 573.76

Swee Soo Peter Ng 571.84

Giacomo Di Camillo 559.41

Ronald Smith 559.28

H G Walker 555.50

Michael Kinchington 552.45

Andrew Schwarz 549.44

Thomas Cheung 542.96

Joanne Hack 518.28

Guy Besley 512.74

Gavin Rezos 512.23

G.A & R.J Burgess 509.00

Ditmar Kohler 506.04

Catherine Jenkins 483.24

Selwyn Kwok 469.26

Ian Camilleri 462.29

Tom Krutsky 448.40

Tuan Luc 434.43

Allan White 426.34

Barbara-Anne Meade 417.28

David Pettit 416.15

Jill Gartrell 412.92

Ken Yuille 406.89

Terry Ouroumis 402.56

OKelly Tam 388.12

Cheryl Straka 382.40

Bill Cole 379.98

Brendan Seskis 376.00

Melissa Beveridge 375.82

Andre John 372.94

Sharyn Hall 351.16

Robert Walters 343.52

Terrance & J Addison Cashmore 341.90

Nathanial Wykeham-Fiennes 326.00

Helen Mattock 325.26

Ian & Inge Jackson 314.88

Cannie Ngu 312.84

Andrew Borscz 300.48

Norm Smith 298.66


Peter Balkin 295.65

Therese Wharton 283.44

Chris Way 283.11

Coral Morris 272.57

Darren or Jenny Lewis 269.46

Gary Le Tet 263.86

Ramon Williams 257.52

Harrie Wood 256.40

Luke Dobbyn 254.52

Graham Wiggins 240.53

Peter Lamperd 234.28

George Jacob 232.92

Andras Minach 232.47

Graeme Streeter 227.50

Stephen Langton 216.56

Terrence Bohlsen 210.12

Christine Brereton 208.64

Peter Simons 206.84

Steven Burns 206.58

Graeme Smith 206.01

Trenna Moore 195.85

Raymond Chan 195.42

Vel Pacoski 194.81

Frank Hocart 192.90

Steve Allen 191.63

Javier Calvo Y Perez 189.28

Glen Pereira 186.40

Michael Mcpherson Stewart 180.79

Alfred Low 179.28

John Bowbyes 170.36

Tony Woodwiss 168.58

Paul Keyte 167.79

Benjimin Toh 167.39

Stephen Bex 167.09

Andrew Lazar 164.74

John Holmes 162.84

Neil Harvey 159.21

Douglas Murphy 158.49

Chris King 157.41

Terry Heidtmann 156.30

David OHalloran 155.34

Peter Bridle 152.21

Bruce & Sue Gunn 150.61

Adrian Cester 149.51

Tim dEmden 143.76

Mike Arthur 139.90

Peter Rogerson 135.57

Hamish Thomson 135.28


John Horsell 135.17

Andrew Gunthorpe 134.05

Geoff Loan 127.92

Tod Collins 127.84

Peter Delaney 125.16

Matthew Gulczynski 124.52

Doug Will 124.08

Patrick White 123.90

Tim Ulrich 120.95

Kevin McEntee 119.97

Justin Berry 118.34

Peter & Janette Squire 117.96

Karyn Scully 116.79

Alan Bartram 113.93

Colin Pomery 113.09

Graham Watson 113.00

Craig Anthony Williams 112.69

Roger Edwards 112.08

David Brown 112.00

Robyn Bryant 111.60

Mychael Power 106.52

Andrew Baxter 104.28

Kim Hassell 103.94

Stephen McMinn 102.80

Richard Brown 100.46

Len Goodwin 100.11

Charlotte Sainsbury 99.40

Tim Golledge 96.31

Don Jackson 95.46

Barry Ryan 94.37

Andrew Moir 93.96

Susan Thomas 93.68

Peter Snell 93.18

Jason Billings 89.16

Marc Watkins 87.70

Rudy Linker 86.04

Sandra Summers 84.80

Kenneth OBrien 82.20

Nino Sanzari 82.04

Bruce Jones 81.36

Ron Hardaker 79.92

David Hilton 79.73

Jock Mackay 79.04

Barry Beck 73.01

Kent Duffield 68.66

Trevor Matthews 68.14

Jason (deceased) Michael Lea 67.35

Stuart Bancroft 66.72


Lewis Hillgrove 66.24

David & Catherine Lewis 66.04

David Marshall 65.46

Elizabeth OBrien 64.82

Kim Daven 64.68

Greg Little 64.05

Noel Robinson (Robert) White 63.09

Rowan Berney 62.04

Frank Sticovich 61.12

Alan Coombes 60.12

Nick Kariotoglou 56.10

Bruce Adair 52.29

Garry Whatley 51.80

Anne Roder 51.45

David Lullfitz 50.05

William Billing 49.36

Nigel Penrose 47.78

Andrew Rubio 47.24

Jatin Mukhi 46.28

Jon Darvill 45.88

Nicholas Gledhill 45.73

Robert Anderson 43.81

Glenn Freebody 43.44

Peter Todd 43.44

Anthony Hancy 41.02

Steven Goodman 40.33

Anthony Stevens 40.32

Robert Frost 40.18

Colin Wilson 39.28

David Rootes 39.10

Mitch Harrison 38.96

Bruce Maple 38.88

Darryl & Maria Bryant 38.63

Neil Doody 38.58

Dianne Sanders 38.58

Alan Waugh 37.56

Peter Freeman 37.19

Anthony Cozens 36.33

Tim Croft 36.29

John Durie 35.60

Berit Hanly 33.90

Col Bulmer 32.34

Larry Robertson 30.59

Greg Murray 30.32

Henry & Sandra Kelley 30.30

Leon Buker 30.06

Michael Drew 29.57

David Hayes 29.20


Hunter McPherson 28.56

Robert Dean 28.33

Grant Scott 28.16

Peter Stanley 27.81

Glen Turvey 27.64

Adam Mulukin 26.78

Andrew Sommerville 26.71

Mark Kozel 26.07

Philip Heath 25.72

William McFarland 25.20

David Lewis 25.02

Vicki Cullen 23.98

Byron Glen 23.64

Richard Keyes 22.88

Rick Phillips 22.87

Clifford Buckman 21.93

Paul Drabsch 21.03

Julie Burke 19.93

Bill Mandley 19.92

Suzie Ireland 19.29

Philip & Wendy Stevens 19.29

Patrick Daly 19.20

Natalie Chung 16.87

Joel Tyack 15.47

Kirep Pty Limited 14.95

Theo Bogiatzis 13.90

Henry Gartside 13.55

Edward Markland 13.44

Arthur Ho 13.04

Phil Wilkins 12.86

Graeme Lawrence 12.86

Frank Handcock 12.68

Robert White 12.17

Benjamin James Herdmun 12.11

Mary Ledwidge 11.97

Andrew Cooper 11.82

David Leonard 11.28

Anthony Clark 11.12

Peter Lynn 11.10

Douglas Yek 10.62

Lloyd McPherson 10.07

Fred Affleck 9.38

Michael Tait 8.86

Steve Hughes 8.36

Jonathan Corby 7.97

Stuart Sexton 7.64

Mark De Jesus 7.47

Christopher Hodgens 6.95


Michael Stone & Rapheal Murphy 6.90

Simon Cayzer 6.80

Rosalind Menzies 6.72

Jason Drysdale 6.60

Rob Turner 5.47

John Hibbard 5.04

Eunice Wingrove 4.53

Brett Trevethan 3.64

Stephen Jones 3.48

Melinda Burton 3.26

Timothy Ross 2.88

Kate Smith 2.43

Rick Pilz 2.43

Ian MacLiver 2.00

Charles Stewart 1.92

Frank Rossiter 1.91

Rick Mead 1.20

Adrian Howick 1.20

Paul Daly 0.99

Glenn Thompson 0.96

Robert Moorhead 0.63

Christine Bradford 0.18

Mathew Willoughby 0.10

Craig Manning 0.10

Larry McGrath 0.08

Tragopans Investments Pty Ltd TBA

Rowan Pty Ltd TBA

Wine Investment Services Pty Ltd (In Liquidation) ACN 121 915 366

General Information for Attending and Voting at Meetings of Creditors

Time and Place of Meeting

Pursuant to Corporations Regulation (“Regulation”) 5.6.14 a meeting of creditors must be convened at a time and place most convenient for the majority of creditors entitled to receive notice of the meeting.

Quorum

+ Pursuant to Regulation 5.6.16 a meeting must not act for any purpose except:

- the election of a chairperson; and - the proving of debts; and - the adjournment of the meeting:

unless a quorum is present.

+ A quorum is deemed to be present if at least 2 (two) creditors are present at the meeting in person, by proxy, by power of attorney or participating by telephone.

+ A meeting is sufficiently constituted if only one person is present in person if the person represents personally or by proxy or otherwise a number of persons sufficient to constitute a quorum.

Chairperson

Pursuant to Section 497(8) of the Corporations Act 2001, the creditors may appoint one of their number or the director who attends the meeting as Chairperson of the meeting.

Voting

+ Pursuant to Regulation 5.6.23 creditors will not be eligible to vote at the meeting unless they have lodged particulars of their debt or claim prior to or at the meeting.

+ Accordingly, creditors who intend to vote at the meeting should ensure that they lodge a formal proof of debt with the company prior to or at the meeting.

+ Pursuant to Regulation 5.6.19 all resolutions put to the meeting will be decided on the voices unless a poll is demanded, before or on the declaration of the result of the voices.

A poll may be demanded by:

- the chairperson; or - at least 2 (two) persons present in person, by proxy, by power of attorney or

participating by telephone and entitled to vote at the meeting; or - a person present in person, by proxy, by power of attorney or participating by

telephone and representing not less than 10% of the total voting rights of all persons entitled to vote at the meeting.

+ Pursuant to Regulation 5.6.21, should a poll be demanded:

- a resolution will be carried if a majority in number and a majority in value vote in favour of the resolution; and

- a resolution will be lost if a majority in number and a majority in value vote against the proposed resolution.

In the event of a deadlock, the chairperson may exercise a casting vote. In such situations, the minutes of the meeting must specify the chairperson’s reasons for exercising, or not exercising, their casting vote.

Proxies

+ Pursuant to Regulation 5.6.28 creditors who are entitled to attend and vote at the meeting may appoint a natural person over the age of 18 years as their proxy to attend and vote at the meeting on their behalf.

Accordingly, creditors who are unable to attend the meeting but who wish to be represented should ensure that a validly executed proxy form is lodged with the company prior to or at the meeting.

+ Pursuant to Regulations 5.6.28 and 5.6.36A creditors may lodge a facsimile copy of a proxy form with the company prior to the meeting, however, the original of the instrument must be received by the company within 72 hours of receipt of the faxed copy.

+ Pursuant to Regulations 5.6.28, 5.6.29 and 5.6.31 creditors may lodge a proxy form with the company prior to the meeting by electronic means, however electronic lodgement will only be possible where the convenor has specified an electronic address or other electronic means on the proxy form. Proxy forms lodged via electronic means must be validly executed by signing and scanning the form.

+ Pursuant to Regulation 5.6.32 a person may, should they so desire, appoint the Chairperson by name or by reference to his or her office to act as his, her or its general or special proxy.

+ Pursuant to Regulation 5.6.33 special proxies, but not general proxies, can be used to vote in favour of any resolution that would directly or indirectly place the holder of the proxy (or any partner or employee of that person) in a position to receive any remuneration out of the assets of the company, except as an ordinary unsecured creditor.

Corporate Creditors

Corporate creditors who wish to attend the meeting should note that they may only be represented by an individual if that person is validly granted a proxy or power of attorney by that corporation.

Alternatively, Section 250D of the Corporations Act 2001 provides that a corporation may, by resolution of its board, provide a standing authority for a specified person to represent the corporation at specified meetings of creditors. A copy of any such resolution should be provided to the company prior to or at the meeting.

Committee of Inspection

Pursuant to Section 548 of the Corporations Act 2001, a person may only serve as a member of a Committee of Inspection if the person is:

+ a creditor or contributory of the company personally; or

+ the attorney of a creditor or contributory under a general power of attorney; or

+ authorised in writing by a creditor or contributory.

Page 2

Corporate creditors who are members of a Committee of Inspection may be represented by:

+ an officer or employee of the member; or

+ an individual authorised in writing by the member to represent the member on the committee.

Page 3

Australian Company Number: 121 915 366

FORM 535 Subregulation 5.6.49(2)

Corporations Act (2001)

FORMAL PROOF OF DEBT OR CLAIM (GENERAL FORM)

To the Liquidators of:Wine Investment Services Pty Ltd (In Liquidation) 1. This is to state that the company was on 10 October 2013 (date of court order in winding up by the

Court, or date of resolution to wind up, if a voluntary winding up), and still is, justly and truly indebted to: _________________________________________________________

(full name and address of the creditor and, if applicable, the creditor's partners. If prepared by an employee or agent of the creditor, also insert a description of the occupation of the creditor) for $_______________and______cents.

Date Consideration (state how the

Debt arose) Amount

$ c Remarks (include details of

voucher substantiating payment

2. To my knowledge or belief the creditor has not, nor has any person by the creditor's order, had or

received any satisfaction or security for the sum or any part of it except for the following: (insert particulars of all securities held. If the securities are on the property of the company, assess the value of those securities. If any bills or other negotiable securities are held, show them in a schedule in the following form).

Date Drawer Acceptor Amount $c Due Date

*3. I am employed by the creditor and authorised in writing by the creditor to make this statement. I know

that the debt was incurred for the consideration stated and that the debt, to the best of my knowledge and belief, remains unpaid and unsatisfied.

*3. I am the creditor's agent authorised in writing to make this statement in writing. I know that the debt was incurred for the consideration stated and that the debt, to the best of my knowledge and belief, remains unpaid and unsatisfied.

........................................... Dated Signature Occupation: Address

Proof of Debt Reference:

*Do not complete if this proof is made by the creditor personally.

Glossary 3(g)(iii) - Instructions for POD_20130820_12_06 - David James Group

1

Address: Level 31, 60 Margaret Street, Sydney NSW 2000

Contact Name: Johnathon Tawil

Contact Number: +61 2 9338 2607

Proofs of Debt

Notes for your guidance

(Please read carefully before filling in Form 535 or Form 536)

It is a creditor’s responsibility to prove their claim to our satisfaction.

When lodging claims, creditors must ensure that:

(a) the proof of debt form is properly completed in every particular; and

(b) documentary evidence, such as that detailed below, is attached to the Form 535 or Form 536.

Directions for completion of a Proof of Debt

1 Insert the full name and address of the creditor.

2 Under “Consideration” state how the debt arose, for example “goods sold to the company on

…………..”.

3 Under “Remarks” include details of any documents that substantiate the debt (refer to the section

titled “Information to support your claim” below for further information).

4 Where the space provided for a particular purpose is insufficient to contain all the required

information in relation to a particular item, that information should be set out in an annexure.

5 An annexure to the form must have an identifying mark and be endorsed with the words:

“This is the annexure of …… pages marked …… referred to in the Form 535/536 signed by me

and dated …………………

…………………………………… ……………………………………………………..

Signature(s) Name of Signatory IN BLOCK LETTERS”

and signed by each person signing the form to which the document is annexed.

6 The pages in the annexure must be numbered consecutively.

7 Where a document, copy of a document or other matter is annexed to a form, reference made in

the form to the annexure shall be by its identifying mark, the number of pages in it, and a brief

description of the nature of the document and its contents.

8 A reference to an annexure includes a document, copy of a document or any other matter

accompanying, attaching to or annexed to a form.

Information to support your claim

Please note that your debt is not likely to be accepted unless evidence to support its existence is

provided. Detailed below are some examples of the type of debt creditors may be claiming and

a suggested list of documents, copies of which should accompany a proof of debt for that class of

creditor.

Trade Creditors

Statements and supporting invoices(s) showing the amount of the debt; and

Advice(s) to pay outstanding invoice(s) (optional).

Glossary 3(g)(iii) - Instructions for POD_20130820_12_06 - David James Group

2

Guarantees/Indemnities

Executed guarantee/indemnity;

Notice of Demand served on the guarantor; and

Calculation of the amount outstanding under the guarantee.

Judgment Debt

Copy of the judgment; and

Documents/details to support the underlying debt as per other categories.

Deficiencies on Secured Debt

Security Documents (eg. mortgage);

Independent valuation of the secured portion of the debt (if not yet realised) or the basis of the

creditor’s estimated value of the security;

Calculation of the deficiency on the security; and

Details of income earned and expenses incurred by the secured creditor in respect of the secured

asset since the date of appointment.

Loans (Bank and Personal)

Executed loan agreement; and

Loan statements showing payments made, interest accruing and the amount outstanding as at the

date of appointment.

Tax Debts

Documentation that shows the assessment of debts, whether it is an actual debt or an estimate,

and separate amounts for the primary debt and any penalties.

Employee Debts

Basis of calculation of the debt;

Type of Claim (eg. wages, holiday pay, etc);

Correspondence relating to the debt being claimed; and

Contract of Employment (if any).

Leases

Copy of the lease; and

Statement showing amounts outstanding under the lease, differentiating between amounts

outstanding at the date of the appointment and any future monies.

FORM 532 Corporations Act 2001

Regulation 5.6.29

Wine Investment Services Pty Ltd ACN 121 915 366 (In Liquidation) (“the Company”)

APPOINTMENT OF PROXY

I/We (1) _____________________________________________________________________________ of _________________________________________________________________________________________________ a creditor/member of Wine Investment Services Pty Ltd (Receivers and Managers Appointed) (In Liquidation) appoint (2)_____________________________________________ or in his/her absence (3) _____________________________________________as my/our general/special proxy to vote at the meeting of creditors to be held on 25 October 2013 at 9:30 AM or at any adjournment of that meeting. DATED this ___________ day of ________________________ 20 (4) Signature ___________________________________ CERTIFICATE OF WITNESS - only complete if the person given the proxy is blind or incapable of writing. I, ____________________________________________ of _______________________________________________ certify that the above instrument appointing a proxy was completed by me in the presence of and at the request of the person appointing the proxy and read to him before he attached his signature or mark to the instrument. DATED this ___________ day of ________________________ 20 Signature of witness ___________________________________

Description ___________________________________

Place of residence ___________________________________

___________________________________

Notes: (1) If a firm strike out "I" and set out the full name of the firm. (2) Insert the name of the person appointed. (3) If a special proxy, “add the words ‘to vote for’ or the words ‘to vote against’ and specify the particular resolution”. (4) If the creditor is a sole trader , sign in accordance with the following example: “A.B., proprietor”. If the creditor is a partnership, sign in accordance with the following example: “A.B., a partner of the said firm.” If the creditor is a company, then the form of proxy must be under its Common Seal or under the hand of some officer duly

authorised in that capacity, and the fact that the officer is so authorised must be stated in accordance with the following example: “for the company, A.B.” (duly authorised under the Seal of the Company).

Proxy forms should have been completed and returned by no later than 5pm on 23 October 2013 to be eligible to vote at the meeting. RETURN TO: Wine Investment Services Pty Ltd of care of McGrathNicol Address: GPO Box 9986, Sydney NSW 2001 Phone: +61 2 9338 2600 Fax: +61 2 9338 2699

Glossary 3(h)(c) - Instructions for Proxy_20130820_15_45

Proxy

Notes for your Guidance

+ Insert full name and address of creditor, contributory or member on the top line.

+ On the second line, insert the name of the person you appoint as your proxy. You may insert “the Chairperson of the meeting” if you wish.

+ On the next line insert the organisation the proxy holder represents or works for (not required if the Chairperson is your proxy).

+ You may appoint an alternate proxy on the fourth line who may act if your first appointed proxy cannot attend the meeting. You may insert “the Chairperson of the meeting” if you wish.

+ If the proxy is a general proxy the form requires no addition.

+ If the proxy is a special proxy the form must include instructions regarding the use of the proxy (i.e. details of the resolution and whether the proxy holder is to cast a vote in favour or against the resolution or abstain from voting).

+ Date and sign the Proxy form using one of the following various forms of execution:

- Sole Trader - Sign the proxy yourself.

- Partnership - e.g. sign - “Smith & Associates Per John Smith - Partner”

- Company - (i) By a director or secretary, e.g. “J Smith – Director”. (ii) By a person duly authorised to sign on behalf of the

company, e.g.

“Smith & Sons Pty Ltd. ACN: ______________ Per: J Smith A person duly authorised to sign on the company’s behalf”. OR

“Smith & Sons Pty Ltd. ACN: ______________ By its duly constituted attorney J Smith”.

NB: If signing on behalf of a company the following example is not sufficient: ”Smith & Sons Pty Ltd. ACN: _______________ Per: J Smith”

+ “Certificate of Witness” is only to be used where the Proxy is being completed on behalf of a person who is blind or incapable of writing. In all other cases a witness to the signature of the person appointing the Proxy is not required and you may ignore the section headed “Certificate of Witness”.

Declaration of Independence, Relevant Relationships and Indemnities Wine Investment Services Pty Ltd ACN 121 915 366 (In Liquidation) (“Wine Investment Services”)

The Corporations Act 2001 and professional standards require the Practitioner/s appointed to an insolvent entity to make a declaration as set out in this document as to:

A. Their independence generally;

B. Relationships, including:

a. the circumstances of the appointment;

b. any relationships with the Insolvent and others within the previous 24 months;

c. any prior professional services for the Insolvent within the previous 24 months;

d. that there are no other relationships to declare; and

C. Any indemnities given, or up-front payments made, to the Practitioner.

The following declaration addresses these issues and is made on behalf of ourselves, our partners and the firm McGrathNicol:

A Independence

We, Shaun Fraser and Chris Honey of the firm McGrathNicol have undertaken a proper assessment of the risks to our independence prior to accepting the appointment as Liquidators of the Wine Investment Services in accordance with the law and applicable professional standards. This assessment identified no real or potential risks to our independence. We are not aware of any reasons that would prevent us from accepting this appointment.

B Declaration of Relationships

(i) Circumstances of appointment

Wine Investment Services is linked to companies associated with or controlled by Mr David James. The majority of these companies are in external administration or subject to recovery action from secured creditors.

We were appointed as Liquidators of Wine Investment Services in accordance with section 495 of the Corporations Act 2001 (“the Act”) by the sole member of the Company, Rugama Trading Pty Ltd (Receivers and Managers Appointed)(In Liquidation)(“Rugama”) on 10 October 2013.

The Australia and New Zealand Banking Group Limited (“ANZ”) holds a charge over the assets of Rugama, including its shares, and appointed Greg Hall and David Merryweather of PriceWaterhouseCoopers as Receivers and Managers on 19 August 2013. We were also appointed as administrators of Rugama by the ANZ, as the substantial secured creditor on 19 August 2013 in accordance with section 436C(1) of the Act. We were subsequently appointed Liquidators of Rugama by resolution of creditors on 18 September 2013.

We had several telephone discussions with Messers Hall and Merryweather prior to our appointment for the purposes of confirming that we did not have a conflict of interest and were able to act as liquidators. During these discussions we also considered the means of instituting the engagement and obtained a general background of regarding the circumstances of Wine Investment Services.

We received no remuneration for these attendances and advice.

In addition, we confirm that we had no meetings with Wine Investment Services and we did not receive any remuneration from the Company prior to our appointment.

These discussions nor the circumstances of the appointment do not affect our independence for the following reasons:

1. The matters discussed were limited to a general overview of position of Wine Investment Services and the scope of the proposed appointment, which was necessary for the purposes of planning for the conduct of the liquidation.

2. Being liquidators of Rugama does not prevent us from being able to fully comply with the statutory and fiduciary obligations associated with the liquidation of Wine Investment Services in an objective and impartial manner as there do not appear to be any issues in dispute between the companies and we will continue to monitor this and act accordingly should the position change during the course of both liquidations. This matter is considered further in Part D.

As such, we consider the above circumstances do not compromise our independence.

(ii) Relevant Relationships (excluding Professional Services to the Insolvent)

We, or a member of our firm, have, or have had within the preceding 24 months, a relationship with:

Name Nature of relationship Reasons why no conflict of interest or duty

Rugama

Rugama is the holding company of Wine Investment Services, holding 100% of its shares. We were appointed as Liquidators of Rugama on 18 September 2013.

We have considered the relationship between Rugama and Wine Investment Services and concluded that this does not constitute a threat to our independence on either engagement as there do not appear to be any issues in dispute between the companies that would be within the remit of the liquidator to resolve. This is because the majority of the companies have their assets fully secured and a receiver has been appointed to enforce that security. We will continue to monitor this and act accordingly should the position change during the course of both liquidations.

(iii) Prior Professional services to the Insolvent

Neither we, nor our firm, have provided any professional services to Wine Investment Services in the previous 24 months.

(iv) No other relevant relationships to disclose

There are no other known relevant relationships, including personal, business and professional relationships, from the previous 24 months with the Company, an associate of the Company, a former insolvency practitioner appointed to the Companies or any person or entity that has a charge on the whole or substantially whole of the Company property that should be disclosed.

C Indemnities and up-front payments

We have not been indemnified in relation to this liquidation, other than any indemnities that we may be entitled to under statute and we have not received any up-front payments in respect of our remuneration or disbursements.

D Appointments to Members of a Corporate Group

We were appointed as Voluntary Administrators on 19 August 2013 to five companies controlled by Mr David James as the sole Director. Three are in a group of companies (Rugama Trading Pty Ltd ACN 135 068 147, TLT Nominees Pty Ltd ACN 133 250 307 and Newcastle Liquor Wholesalers Pty Ltd ACN 135 338 635), whilst the other two companies (James Australia Group Pty Ltd ACN 000 975 191 and Print National Nominees Pty Ltd ACN 098 730 431) are standalone entities owned by the same shareholder. We were subsequently appointed as Liquidators of the above companies by a resolution of creditors of the companies on 18 September 2013. Greg Hall and David Merryweather of PWC are Receivers of all five companies.

As noted above, Rugama is the sole member of Wine Investment Services.

It appears likely that a dispute may exist between Wine Investment Services and other companies associated with or controlled by Mr David James in relation to ownership of wine stock. It appears that a dispute will be between the Liquidators of Wine Investment Services (where there is no secured creditor) and Receivers appointed to these other entities as the assets in contention are secured (other than in the case of Wine Investment Services). It also appears that the customers of Wine Investment Services may have a claim on certain wine stock.

In none of these instances will the dispute require a competing adjudication by us in our capacity as liquidators of the various David James group entities described above.

The Liquidators are of the view that the appointment to various members of the David James companies, including Wine Investment Services, will have significant benefits to the conduct of the liquidations, particularly in that this will provide for cost-savings and enable as accurate as possible a view to be obtained of the activities and financial position of Wine Investment Services as a whole. The Liquidators are also aware that there may be inter-company transactions within the group, but at this time are not aware of any potential conflicts of interest arising from the appointments over the various group members as a result of inter-company transactions. This is principally because other than in Wine Investment Services, there are no companies to which we have been appointed liquidator that have any unsecured assets and receivers representing the secured creditors are acting to realise the secured assets. However, to the extent it becomes apparent that pre-appointment dealings between Wine Investment Services and any other member of the group that we have been appointed liquidators to, may give rise to a conflict which may impact the outcome for creditors of the Wine Investment Services, then the Liquidators undertake to disclose any such conflicts to the creditors and seek the means of resolving the potential conflict, including, if necessary, by way of a directions application to the Court.

Dated: 16 October 2013

.................................................................... ....................................................................

Shaun Fraser, Partner Chris Honey, Partner

Note:

If the circumstances change, or new information is identified, we are required under the Corporations Act 2001, the IPA Code of Professional Practice and APES 330 to update this Declaration and provide a copy to the creditors/Committee with our next communication as well as table a copy of any replacement declaration at the next meeting of the insolvent’s creditors/Committee.

Any relationships, indemnities or up-front payments disclosed in the Declaration of Independence, Relevant Relationships and Indemnities (“DIRRI”) must not be such that the Practitioner is no longer independent. The purpose of components B and C of the DIRRI is to disclose relationships that, while they do not result in the Practitioner having a conflict of interest or duty, ensure that creditors are aware of those relationships and understand why the Practitioner nevertheless remains independent.

Please note that the presentation of the above information is in accordance with the standard format suggested by the Insolvency Practitioners Association of Australia.

Schedule of Remuneration Methods and Hourly Rates - Wine 1

SCHEDULE OF REMUNERATION METHODS AND HOURLY RATES

Remuneration Methods

Four basic methods can be used to calculate the remuneration charged by an insolvency practitioner. They are:

+ Time based/hourly rates - This is the most common method. The total fee charged is based on the hourly rate charged for each person who carried out the work multiplied by the number of hours spent by each person on each of the tasks performed.

+ Fixed Fee - The total fee charged is normally quoted at the commencement of the administration and is the total cost for the administration. Sometimes a practitioner will finalise an administration for a fixed fee.

+ Percentage - The total fee charged is based on a percentage of a particular variable, such as the gross proceeds of asset realisations.

+ Contingency - The practitioner’s fee is structured to be contingent on a particular outcome being achieved.

Method chosen

We propose that our remuneration be calculated on a time basis at hourly rates. This method is considered to be most suitable for this appointment as it ensures that creditors are only charged for work that is performed. Time will be recorded and charged in six minute increments. The complexity and demands of the administration will dictate the staff to be utilised for this appointment.

Explanation of Hourly Rates

The rates for our remuneration calculation are set out in the following table together with a general guide showing the qualifications and experience of staff engaged in the administration and the role they take in the administration. Staff will be charged under the classification we consider appropriate to their experience and the circumstances of the specific assignment. The hourly rates charged encompass the total cost of providing professional services and are not comparable to an hourly wage.

Title Guide to qualifications and role Hourly rate (excl GST)

Appointee/Partner Registered liquidator, Chartered Accountant or equivalent and generally degree qualified with more than twelve years experience. Leads assignments with full accountability for strategy and execution.

$587

Director 1 Generally, Chartered Accountant or comparable qualification and degree qualified with more than ten years of experience, including four years of Director or equivalent experience. Autonomously leads complex insolvency appointments reporting to Appointee/Partner.

$531

Director Generally, Chartered Accountant or comparable relevant qualification and degree qualified with more than nine years of experience. Autonomously leads insolvency appointments reporting to Appointee/Partner.

$493

Senior Manager Generally, Chartered Accountant or comparable relevant qualification and degree qualified with more than seven years of experience. Self-sufficiently conducts small to medium insolvency appointments and leads major workstreams in larger matters.

$438

Manager 1 Generally, Chartered Accountant or comparable relevant qualification and degree qualified with more than six years of experience, including two years of Manager 2 or equivalent experience. Self-sufficiently conducts small to medium insolvency appointments and takes a supervisory role on workstreams in larger matters.

$390

Schedule of Remuneration Methods and Hourly Rates - Wine 2

Title Guide to qualifications and role Hourly rate (excl GST)

Manager 2 Generally, Chartered Accountant or comparable relevant qualification and degree qualified with more than five years of experience. Self-sufficiently conducts small insolvency appointments and takes a supervisory role on workstreams in larger matters.

$349

Assistant Manager Generally, Chartered Accountant or comparable relevant qualification and degree qualified with more than three years of experience. Autonomously manages workstream activity within appointments.

$315

Senior Accountant 1 Generally, degree qualified and undertaking Chartered Accountant’s qualification or comparable relevant qualification with more than two years experience, including one year of Senior Accountant or equivalent experience. Completes multiple tasks within workstreams and appointments.

$272

Senior Accountant Generally, degree qualified and undertaking Chartered Accountant’s qualification or comparable relevant qualification with more than 16 months experience. Completes tasks within workstreams and appointments under supervision.

$242

Accountant 1 Generally, degree qualified and undertaking Chartered Accountant’s qualification or comparable relevant qualification with at lease one year of Accountant or equivalent experience. Assists with tasks within workstreams and appointments under supervision.

$213

Accountant Generally, degree qualified and undertaking or about to undertake Chartered Accountant’s qualification or comparable relevant qualification with less than one year of experience. Assists with tasks within workstreams and appointments under supervision.

$208

Undergraduate/Cadet Undertaking relevant degree. Assists with tasks within workstreams and appointments under supervision.

$179

Personal Assistant Appropriately experienced and undertakes high level administrative support activities.

$136

Professional/ Senior Administrator

Appropriately experienced and undertakes administrative support activities.

$179

Group Secretary Appropriately experienced and undertakes administrative support activities.

$136

Administrator/Clerical Appropriately experienced and undertakes support activities, including but not limited to treasury functions.

$136

McGrathNicol reviews its hourly rates six monthly. The hourly rates quoted above remain in force until 31 December or 30 June (whichever occurs first) and McGrathNicol may increase fees for work continuing past that date.

Creditors will be advised of any change to the hourly rates for this administration.

Disbursement Policy

Disbursements incurred from third party suppliers will be charged at the cost invoiced, without the addition of any margin. There are generally no charges for internal McGrathNicol disbursements such as printing, photocopying and telephone calls. Employee allowances, including kilometre reimbursement and reasonable travel allowances are charged at rates at or below the rate prescribed by the Australian Taxation Office. Goods and Services Tax is applied to disbursements as required by law.

Contents

1 Background, summary of scope and expected timeframes ................................................................... 1 1.1 Background .................................................................................................................................................. 1 1.2 Scope and timeline ...................................................................................................................................... 2

2 Summary of expected costs and pre-approval of fees ............................................................................ 3

3 Annexure A - Detailed description of tasks performed during the period ............................................ 4

D14-131015-DAVITLT01-Remuneration Report-CK

i

1 Background, summary of scope and expected timeframes

1.1 Background

1.1.1 Appointment Shaun Fraser and Chris Honey were appointed Creditors’ Voluntary Liquidators of Wine Investment Services Pty Ltd (“WIS”) on 10 October 2013 by the sole member of the Company, Rugama Trading Pty Ltd (Receivers and Managers Appointed)(In Liquidation).

1.1.2 Operations and Company information

We understand that the Company’s main operations involved storing wine on behalf of investors (“the Wine”) at either a:

+ temperature controlled facility in Denman, Newcastle; or

+ warehouse in Homebush, Sydney.

To date, we have had limited contact with Company Management but we understand the Company’s business is no longer operating. The limited books and records that we have been provided with detail the Wine stocks on hand and potential investors associated with lines of stock.

We understand the Wine is stored in facilities that also contain stock owned by other entities which include, but not limited to:

+ TLT Nominees Pty Ltd trading as Bluestar Beverages (In Liquidation) (Receivers and Managers Appointed)

+ Newcastle Liquor Wholesalers Pty Ltd trading as Peter Doyle Cellars (In Liquidation) (Receivers and Managers Appointed)

+ Liquor National Pty Ltd (Receivers and Managers Appointed)

+ Wine National Pty Ltd (Receivers and Managers Appointed)

David James is the sole Director of all of the above companies.

1.1.3 Ownership of Wine

We are aware that numerous parties and entities may have claimed title to some or all of the Wine. One of the key tasks of our appointment will be to confirm who holds title of the Wine and then if appropriate either realise value in the Wine by way of a structured sale campaign or return it to its rightful owner.

We anticipate that determining the ownership of the Wine will be a complex matter. This will be dependent on the documentation available and the extent of labelling or identifiable markings on the Wine located in the above storage facilities.

In addition to the above we will investigate whether any Wine has been removed from the above storage facilities and attempt to recover it, if appropriate and beneficial to creditors.

1.1.4 Purpose of report

The purpose of this remuneration report is to outline the work we will undertake in conducting the liquidation and our anticipated costs for that work. As outlined below, we are seeking approval of our fees in advance to a capped amount of $100,000 (excl GST).


1

1.2 Scope and timeline

The approval of fees to be sought at the meeting will be based on the following anticipated scope of works. Given the limited information made available to date, we have presented two scenarios:

+ “Scenario 1” – we encounter minimal complexities with identifying the ownership of the Wine; and

+ “Scenario 2” – we encounter numerous complexities with identifying the ownership of and realising value in the Wine.

Task Expected timing Scenario 1

Expected timing Scenario 2

Convening the first meeting of creditors and dealing with proofs of debts/proxies. Liaising with creditors.

October 2013 October 2013

Determining ownership of stock December 2013 October 2014

Realising the Wine, statutory investigations and submitting our confidential report to ASIC

Dec 2013 - Feb 2014 January 2015

Calling for final proofs of debt and providing notice of intention to declare a dividend

February 2014 February 2015

Proofs of debt (and supporting documents) to be received by this date from unsecured creditors

February 2014 March 2015

Adjudication of proofs of debt March 2014 April 2015

Declaration of dividend/s (if any) April 2014 May 2015

Payment of Liquidators’ expenses, finalisation and closure of matter June 2014 June 2015

We expect Scenario 2 is likely and given competing ownership claims, resolution of these claims may involve litigation. There is a risk that if resolution of the ownership issues involves litigation that the timetable may extend materially.

We anticipate the cost of the liquidation at the firm’s standard rates, applying a 15% discount, will be in the range of $100,000 to $500,000 (excl. GST). The cost of the liquidation will depend upon the steps required to resolve the ownership claims. We propose seeking approval in advance from creditors to draw our fees to a capped amount of $100,000 (excl. GST). We will only seek payment of fees for time costs that are actually incurred.

In the event there are any additional complicating matters that increase the cost of the winding up beyond the amount for which fee approval is sought, then we will seek approval for additional fees from creditors at a subsequent meeting of creditors.

Set out below is a schedule of the remuneration sought for the liquidation against each staff member, together with their hourly rates. A brief description of the general tasks those staff members will be responsible for is included at Annexure “A”.


2

2 Summary of expected costs and pre-approval of fees

The Liquidators of the Company are seeking approval in advance for our fees to a capped amount of $100,000 (excl GST). Fees will be only be drawn in arrears based on the time costs actually incurred in completing the winding up process.

Set out below is a summary of our forecast costs by major task. A detailed description of tasks we expect to perform is set out in Annexure A.

+ + + + +

Should creditors have any queries regarding the material contained in this report, please contact Johnathon Tawil of my staff on (02) 9338 2607.

Dated 17 October 2013

Shaun Fraser Liquidator

Budgeted remuneration for the period from 10 October 2013 to completion of the liquidation

$/hour(ex GST) hrs $ (ex GST) hrs $ (ex GST) hrs $ (ex GST) hrs $ (ex GST) hrs $ (ex GST) hrs $ (ex GST)

Shaun Fraser Partner 690 20.0 13,800 10.0 6,900 3.0 2,070 5.0 3,450 1.0 690 1.0 690Brad Leahy Senior Manager 515 26.0 13,390 15.0 7,725 3.0 1,545 5.0 2,575 2.0 1,030 1.0 515Chris King Manager 459 93.0 42,687 50.0 22,950 25.0 11,475 10.0 4,590 5.0 2,295 3.0 1,377Johnathon Tawil Accountant 245 175.0 42,875 80.0 19,600 40.0 9,800 25.0 6,125 20.0 4,900 10.0 2,450Various Treasury and Admin 160 31.0 4,960 5.0 800 5.0 800 1.0 160 5.0 800 15.0 2,400Total (excl GST) 345.0 117,712 160.0 57,975 76.0 25,690 46.0 16,900 33.0 9,715 30.0 7,432Discount (15% excl GST) (17,657) (8,696) (3,854) (2,535) (1,457) (1,115)Discounted total (excl GST) 100,055 49,279 21,837 14,365 8,258 6,317GST 10,006 4,928 2,184 1,437 826 632Total Inc GST 110,061 54,207 24,020 15,802 9,084 6,949

Dividends Administration Employee Position

Total Assets Creditors Investigations


3

3 Annexure A - Detailed description of tasks performed during the period

Task area Description

Assets 160 hours $57,975 (excl GST)

+ Securing the assets of the Company including liaising with the Receivers (PWC and Deloitte) of the other companies.

+ Investigating, reviewing and analysing books and records and stock records and negotiations the Receivers of other related companies in relation to ownership claims.

+ If appropriate, manage the realisation of assets i.e. Wine. + Undertaking appropriate intellectual property and other searches. + Reviewing the Company’s records and considering other asset recoveries.

Creditors 76 hours $25,690 (excl GST)

+ Preparing correspondence and documentation required for creditors meeting. + Organising and attending creditors meeting and dealing with associated creditor

queries. + Dealing with any PPSR claims and customers with claims to specific wine stock. + Preparing the minutes of the creditors meeting and lodging them with ASIC. + Liaising with creditors and customers including any queries regarding their claims or

the liquidation.

Investigations 46 hours $16,900 (excl GST)

+ Liaising with Company office holders regarding the Company and circumstances leading to liquidation.

+ Considering information provided by creditors in relation to the conduct of the Company and its officers.

+ Undertaking statutory investigations into the Company’s affairs. + Reviewing books and records of the Company and considering avenues of recovery

under the provisions of the Corporations Act. + Preparing and issuing a confidential report to the Australian Securities Investments

Commission (“ASIC”).

Dividends 33 hours $9,715 (excl GST)

+ Calling for proofs of debt. + Reviewing unsecured claims received. + Preparing correspondence to unsecured creditors regarding the adjudication of their

claims. + Dealing with any further claims or additional work resulting from the adjudication of

unsecured claims. + Arranging for the dividend to be declared to unsecured creditors.

Administration 30 hours $7,432 (excl GST)

+ Accounting for receipts and payments and paying the liquidators’ costs and fees. + Lodging the required form 524 receipts and payments with ASIC. + Lodging the required Business Activity Statements with the Australian Taxation

Office. + Lodging appropriate documents with ASIC for the finalisation of the liquidation.


4

Authority for Member of Committee of Inspection

Wine Investment Services Pty Ltd (In Liquidation) ACN 121 915 366

I/We, _____________________________ of ____________________________________________ [creditor/contributory name] [creditor’s/contributory’s address] a creditor or contributory of Wine Investment Services Pty Ltd, duly authorise ___________________________________ of __________________________________________ [representative] [representative’s address] to be my/our representative on the Committee of Inspection of Wine Investment Services Pty Ltd (In Liquidation). ______________________________ Signature of creditor __________________________________________ Position of signatory __________________________________________ Name of signatory __________________________ Date I, _______________________________, accept my appointment to the Committee of Inspection for [representative] Wine Investment Services Pty Ltd (In Liquidation). ______________________________ Signature of representative __________________________ Date

D14-131014-DAVITLT01- Authority for Committee of Inspection-JT

Wine Investment Services Pty Ltd ACN 121 915 366 (In Liquidation) (“the Company”)

Committee of Inspection Confidentiality Acknowledgement

I, the person named in the schedule, having been appointed to a committee of inspection of the Company may have divulged to me from time to time as a committee member information relating to the Company and its dealings and personal information relating to individuals associated with or having dealings with the Company.

I acknowledge that I will not use such information for any purpose other than the purpose for which it was made available to me and, in any event, I will not use such information in a manner that may be a breach of any Act or Law including the Corporations Act 2001 and the Privacy Act 1988.

Dated this day of

____________________________ Signature of Committee Member

Schedule

Name (of Committee Member) _________________________________

Address (of Committee Member) _________________________________

_________________________________

_________________________________

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