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WPG Resources appoints receivers, managers

WPG Resources Ltd. appointed Gregory Dudley, Jonothan Colbran and Richard Stone of RSM Australia Partners as joint and several receivers and managers to the company and each of its subsidiaries.

According to an Aug. 8 release, the receivers took immediate possession of all relevant assets and are assessing the company's operations.

In late July, Adam Nikitins, Brett Lord and Samuel Freeman of Ernst & Young were appointed joint administrators of WPG after the company failed to meet the conditions of a term sheet with Byrnecut Entities to complete a recapitalization.