IDA Declaration of Unacceptable Circumstances

The Panel has made a declaration of unacceptable circumstances (Annexure A) in relation to an application made on 5 April 2017 by Indiana Resources Limited in relation to its affairs (see TP17/12). The Panel has accepted an undertaking from BPM Capital Limited (Annexure B) in lieu of making orders. Background In late 2016 and early 2017 Indiana had discussions concerning a proposed transaction in