The Mayne Report - Shares retained in collapsed companies

January 6, 2014

Here is a list of public companies that I've had the unfortunate experience of being on the share register when they've collapsed or gone into administration.

ABC Learning: thankfully only retained one share when it collapsed in 2008, but was stuck with 6 unsecured notes which costs $99 each so the overall loss was more than $500.

ABC Learning unsecured notes: bought 6 notes for $594 so lost the lot when it collapsed.

Allco Finance Group: Bought 100 shares in the old Record Investments at $5.38 a pop in 2005, then sold half when they doubled but was left with 50 worthless shares in Allco by the time it collapsed in November 2008.

Allco Hybrid Notes (AHUG): bought 9 at $60 in January 2008 and was returned $11.53 a share by the receiver in December 2008 for a total loss of $456.18.

Babcock & Brown: retained 10 shares when it collapsed in 2009.

Babcock & Brown unsecured notes: retained one note when it collapsed in 2009.

Bill Express: bought 3226 at 15c each in January 2008 so lost the lot when it collapsed in 2009.

Centaur Mining & Exploration: collapsed in 2001.

CFK ChildCare: bought 1210 shares at 41c each in June 2006, sold 1110 at 10c each in June 2007, then left with residual 100 shares when it collapsed in late 2008.

City Pacific: bought 120 at $4.31 on May 24, 2007. Sold 124 at 5.6c on June 15, 2009, and retained 10 shares when it collapsed in 2009.

Commander Communications: collapsed in 2008.

Copperco: the Perth-based mining company appointed administrators in November 2008 the board last claimed to have net assets worth $79.5 million in the 2007-08 balance sheet. We bought 893 shares at 56c in February 2008 and then thankfully sold 800 at 64.5c in April 2008. Were left with 93c at the collapse so the total loss was only about $50 including brokerage.

Data & Commerce Ltd: the Perth-based company which at one point owned 3AK before collapsing in 2003.

Forest Enterprises Australia: suspected since February 2010. Bought 855 at 58c on Jan 16, 2008. Bought 878 at 56c on Jan 22, 2008. Sold 1,500 at 57c on Feb 4, 2008. Holding 233 shares.

Eisa: one of the over-hyped dotcom book companies which didn't see out 2001.

Fermiscan: held only 10 shares when the administrator was appointed in November 2009.

Great Southern Plantations: bought 215 at $2.43 on Aug 24, 2006. Sold 180 at $2.91 on June 27, 2007. Collapsed in 2009 when I was holding 35 shares.

HIH Insurance: collapsed in 2001.

Indigo Properties Australia: has been in negotiation with its bankers since late 2009.

Jackgreen: green energy retailer hasn't traded since 2009

Macquarie DDR Trust: suspended since March 2010.

MFS: MFS Ltd: bought 105 at $4.96 on Mar 5, 2007. Sold 90 at $5.73 on June 25, 2007, and was holding 15 shares when it collapsed in 2008.

Monarch Gold: collapsed in 2008 but then came to life in 2010.

Onetel: collapsed in 2001.

Nylex: purchased 224 shares on 16 January 08 at $2.25 per share, company collapsed on unlucky Friday 13 Feb, 2009 losing an investment of approx $530.

Palamedia: put $200 into in the early 2000s and it was finally suspended in March 2010.

Record Realty: has been suspended since late December 2008 as the board waits for a debt rollover by the British Government which now controls the property trust's major lender, BOS International.

Rubicon America Trust: bought 500 at $1 on Aug 15, 2007. Company collapsed in 2009 losing all the $500 investment.

Rubicon Europe Trust Group: bought 645 at 78c on Nov 5, 2007. Suspended in late 2008 and now in the hands of its bankers.

Rubicon Japan Trust: bought 575 at 87c on Nov 5, 2007. Collapsed in 2009 losing all the $500 investment.

Tamaya Resources: was cold called in May 2008 to support an SPP at 11.5c, so paid $5000 for 4,347 and then sold 43,479 at 9.2c for $3,968 in June 2008, so lost more than $1000. Was left with 2450 which cost an average of 12c each so this was additional loss of $294.

Timbercorp: bought 250 at $2.05 on Feb 8, 2007. Company collapsed in 2009 losing all of the $500 investment.

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Shares retained in collapsed companies

January 6, 2014

Here is a list of public companies that I've had the unfortunate experience of being on the share register when they've collapsed or gone into administration.