KPMG has written to the CPSU NSW confirming that completion of the sale transaction occurred as planned on 13 December 2021, with the Deed Of Company Arrangement put into operation and Scope assuming control of Disability Services Australia (DSA).
Whilst this now brings an end to the Administrators/Deed Administrators being in control of DSA, the Creditors’ Trust has now commenced with payments to former employees being made by end of January 2022 (or earlier) and all other unsecured creditors (not remaining with DSA) expected to be made by 31 March 2022 (or earlier).
KPMG is currently working to try to make payments to former employees no longer with DSA by 23 December 2021, subject to confirmations regarding amounts payable.
KPMG stated it is rare for there to be continuity of business and a complete financial return and thanked all of the parties involved for their support in making the restructure work.
Sharny Chalmers Industrial Officer
They can join at www.cpsunsw.org.au/join.
