Mr. Michael Ryan

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  paguntaka.org/search/ryan+gold - [Cached Version]
  Published on: 2/12/2007    Last Visited: 1/19/2008  

  Allstate administrator, Michael Ryan, announced yesterday the Allstate companies would come out of administration - subject to a creditors' […]

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  www.abc.net.au/news/stories/2008/07/30/2318678.htm?sect - [Cached Version]
  Published on: 1/1/2008    Last Visited: 7/29/2008  

  The former administrator of Allstate Explorations, Michael Ryan, is giving evidence today on the mine's finances.
  
  He said management was effectively given a blank check for safety spending, and urgent funding requests were always accepted, even if they exceeded the safety budget.
  
  He said the mine's financiers never suggested gold production should proceed more quickly than it was.

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  www.trustingold.com/gold_news/2006/09/06/dhid17598209/ - [Cached Version]
  Published on: 9/1/2006    Last Visited: 8/3/2007  

  Michael Ryan, the mine's administrator, commented: "We still have a way to go, including further mining engineering work and modelling the economic impact of any changes to the mining method and required ground support, but there have been a number of developments over the past month.

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  2GB - Beaconsfield mine given the green light - [Cached Version]
  Published on: 11/2/2006    Last Visited: 11/2/2006  

  The mine's administrator, Michael Ryan, has welcomed the decision but says it's only a first step towards a return to normal production.

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  Australian Financial Review - - [Cached Version]
  Published on: 5/9/2006    Last Visited: 5/9/2006  

  "It is hoped that during this period employees and management can grieve, rest and regroup to address the future of the mine," joint venture manager Michael Ryan, as deed administrator of Allstate Explorations, said of the pay promise.

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  Beaconsfield Gold - 2006 Announcements - [Cached Version]
  Last Visited: 8/23/2009  

  Allstate and the Joint Deed Administrator, Mr Michael Ryan, have sought expressions of interest in a possible transaction to restructure the ownership of the Beaconsfield Gold Mine, including a share placement in Allstate.

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  Beaconsfield Gold - December 2002 Quarterly Report - [Cached Version]
  Published on: 12/1/2002    Last Visited: 8/23/2009  

  Joint Administrators (Michael Ryan and Tony Woodings of Chartered Accounting firm, Taylor Woodings, based in Perth) were appointed to Allstate on 8 June 2001 and a Receiver and Manager (Garry Trevor of Ferrier Hodgson, Perth office) was appointed to Beaconsfield Gold on 25 June 2001.
  ...
  The updated BMJV budget for 1 January 2003 to 30 June 2003 and the BMJV forecasts for 1 July 2003 to 31 December 2003 (these documents would have been approved in December 2002 by the two members of the BMJV Operating Committee, being of one of the Allstate Joint Administrators, Michael Ryan, as Chairman and the Receiver and Manager of Beaconsfield Gold, Garry Trevor).
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  The minutes of a meeting of Allstate creditors held on 16 December 2002, chaired by one of the Joint Administrators of Allstate, Michael Ryan, include the following: "...... a mediation was held on the Thursday and Friday prior to the meeting.
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  In the interest of estimating Beaconsfield Gold's position, consider a net settlement to Beaconsfield Gold of $5 million to $10 million (in a circular to Allstate creditors dated 5 March 2002, one of the Joint Administrators of Allstate, Michael Ryan, estimated a gross range for Beaconsfield Gold and Allstate combined of $10 million to $40 million which equates to a gross settlement for Beaconsfield Gold of $4.8 million to $19.4 million).
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  Joint Administrators (Michael Ryan and Tony Woodings of Chartered Accounting firm, Taylor Woodings, based in Perth) were appointed to Allstate on 8 June 2001.
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  Given the 19 March 2002 arrangement under which Allstate shareholders had been denied access to the next $77.5 million of free cashflow, it was not surprising therefore that, in a circular to creditors and shareholders of Allstate dated 29 October 2002, one of the Joint Administrators of Allstate, Michael Ryan, said in part: " ... at this stage, it appears that there is little, if any, equity in Allstate that will be available for its shareholders."

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  Beaconsfield Gold - March 2003 Quarterly Report - [Cached Version]
  Published on: 3/1/2003    Last Visited: 8/23/2009  

  Joint Administrators (Michael Ryan and Tony Woodings of chartered accounting firm, Taylor Woodings, based in Perth, Western Australia) were appointed to Allstate on 8 June 2001 and a Receiver and Manager (Garry Trevor of Ferrier Hodgson, Perth office) was appointed to Beaconsfield Gold on 25 June 2001.
  ...
  The updated BMJV budget for 1 January 2003 to 30 June 2003 and the BMJV forecasts for 1 July 2003 to 31 December 2003 (these documents would have been approved in December 2002 by the BMJV Operating Committee, consisting of the Allstate Administrator, Michael Ryan, as Chairman and the Receiver and Manager of Beaconsfield Gold, Garry Trevor).
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  The Executive Director of Beaconsfield Gold understands that during the afternoon of Thursday, 7 June 2001, Macquarie Bank representatives and Mr Michael Ryan of Taylor Woodings visited the Allstate head office in Sydney.
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  In a circular to the creditors of Allstate dated 5 March 2002, one of the Joint Administrators of Allstate, Mr Michael Ryan, outlined a proposal received from Macquarie Bank and called for a meeting on 19 March 2002 to vote on accepting the proposal.
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  Why the Allstate Administrators would be so wayward in the critical information they supplied to the creditors is not clear as one of the Joint Administrators, Mr Michael Ryan, is understood to be the current Chairman of the BMJV Operating Committee which approves the budgets for the BMJV.
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  The official minutes of the meeting also note that the Joint Administrator, Mr Michael Ryan, said the following: "The Bank does have other options available to it.
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  It is not clear why the Joint Administrator, Mr Michael Ryan, considered that Macquarie could vote on the resolution, given that Macquarie were clearly going to be advantaged if the resolution was passed.
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  A circular to the creditors and shareholders of Allstate was released to the ASX by the Allstate Joint Administrator, Mr Michael Ryan, on 29 October 2002. This was the first communication the Allstate shareholders had received from the Joint Administrators since their appointment on 8 June 2001
  
  One comment by Mr Michael Ryan in the circular was, in part: "........ at this stage, it appears that there is little, if any, equity in Allstate that will be available for its shareholders."The Allstate shareholders had never been advised or consulted about the Macquarie Bank proposal to divert the next $77.5 million of free cashflow from Allstate to Macquarie. As the circular did not mention the figure of $77.5 million (it referred only to "..... the sale by Allstate to Macquarie Bank Limited of certain debts that were owing to Allstate by [its subsidiaries]"), the majority of Allstate shareholders probably still don't know what really happened to their company on 19 March 2002
  
  Another comment by Mr Michael Ryan was, in part:"....... the challenge for the BMJV over the next 12 months will be for it to move from the current consolidation period of trading, during which the BMJV has largely traded cash flow neutral (after Capital Expenditure), to a period of significant and continuous cash surpluses so that meaningful debt reductions can be made."This comment, regarding the BMJV having been largely cash flow neutral, contradicted the Beaconsfield Gold published estimates of BMJV net cash flow, which had been based on the BMJV monthly accounts produced by Allstate as Manager of the BMJV. In the September 2002 quarterly report for Beaconsfield Gold, the Executive Director referred to the comment by Mr Michael Ryan and noted that the Allstate Joint Administrator may have been confusing BMJV net cash flow with Allstate net cash flow.
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  Not only the Allstate Joint Administrator, Michael Ryan, may have been confusing BMJV net cash flow with Allstate net cash flow.
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  The minutes of a meeting of Allstate creditors held on 16 December 2002, chaired by one of the Joint Administrators of Allstate, Mr Michael Ryan, included the following: "...... a mediation was held on the Thursday and Friday prior to the meeting.
  ...
  In the interest of estimating Beaconsfield Gold's position, consider a net settlement to Beaconsfield Gold of $5 million to $10 million occurring on 31 July 2003. (In a circular to Allstate creditors dated 5 March 2002, the Joint Administrator of Allstate, Mr Michael Ryan, estimated a gross range for Beaconsfield Gold and Allstate combined of $10 million to $40 million which equates to a gross settlement for Beaconsfield Gold of $4.8 million to $19.4 million.)

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  Beaconsfield mine could reopen this month: report.... - [Cached Version]
  Published on: 5/9/2006    Last Visited: 9/5/2006  

  The administrator of mine operator Allstate, Michael Ryan, will brief the Beaconsfield workers on the findings tomorrow.
  
  It is expected the Australian Stock Exchange will also be advised.

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  Beaconsfield miners asked to quit - Tasmania -... - [Cached Version]
  Published on: 6/1/2006    Last Visited: 6/2/2006  

  Allstate Explorations administrator Michael Ryan said today the northern Tasmanian mine was continuing to work towards "the best possible outcome" for all employees.
  
  "Unfortunately we will still need to offer redundancies to 43 employees," Mr Ryan said in a statement.
  
  "This is less than the view we were forming last week of approximately half the workforce but it is obviously still significant."
  
  Mine management met with employees and Australian Workers Union (AWU) officials in Beaconsfield today to negotiate the final terms of the redundancies.
  
  Mr Ryan said the AWU had pushed to give all employees the opportunity to apply for redundancy.
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  Mr Ryan said the Federal Government's $8 million package was a major factor in the mine's improved outlook.
  
  A new budget had been approved for the next three months, aiming to keep as much of the workforce as "reasonably sensible".
  
  Mr Ryan said it would still be three to four months before mining could resume but a revised Section 39 notice from Workplace Standards could allow the mine to be assessed for safety in sections.
  
  Mine management had discussed the prospect of temporary jobs for some employees at other mines in the region, he said.

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