In the matter of TEN Network Holdings Limited (Administrators Appointed) (Receivers and Managers Appointed) and Others [2017] NSWSC 1219

In the matter of TEN Network Holdings Limited (Administrators Appointed) (Receivers and Managers Appointed) and Others [2017] NSWSC 1219

It is in the interests of the administration and creditors for disputes regarding the adequacy of information to creditors to be determined on merits prior to the second meetings of creditors, and orders adjourning the meetings and extending relevant lodgement periods are justified on procedural fairness and statutory grounds.

Jurisdiction
Australia
Judgment Date
07 September 2017
Procedural Posture
Corporations/equity / Procedural Ruling Regarding Hearing Date and Creditor Meetings
Outcome
The Court makes orders adjourning the second meetings of creditors of the 4th–17th Defendants to 19 September 2017 and lists the matter for hearing on 12–13 September 2017.
Legal Topics
['adjournment of Creditors Meetings' 'procedural Fairness' 'urgent Final Relief' 'modification of Insolvency Rules']
['corporations' 'insolvency' 'civil Procedure'] ['adjournment of Creditors Meetings' 'procedural Fairness' 'urgent Final Relief' 'modification of Insolvency Rules']

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Procedural Posture

Corporations/equity / Procedural Ruling Regarding Hearing Date and Creditor Meetings

Legal Issues

  1. 1 ['Whether the second meetings of creditors should be adjourned to permit a merits determination of issues raised relating to administration and information to creditors' 'Whether the timetable for evidence and hearings should be balanced with procedural fairness' 'Whether the plaintiffs should be required to seek interlocutory relief and give an undertaking as to damages']

Ratio Decidendi

It is in the interests of the administration and creditors for disputes regarding the adequacy of information to creditors to be determined on merits prior to the second meetings of creditors, and orders adjourning the meetings and extending relevant lodgement periods are justified on procedural fairness and statutory grounds.

Court Disposition

The Court makes orders adjourning the second meetings of creditors of the 4th–17th Defendants to 19 September 2017 and lists the matter for hearing on 12–13 September 2017.

Orders

  • ['Pursuant to s 447A of the Corporations Act 2001 (Cth) and/or s 90-15 of the Insolvency Practice Schedule, the second meetings of creditors of the fourth to seventeenth defendants are adjourned to 19 September 2017.' 'Time for lodgement of proxy forms and proofs of debt is extended to 5.00pm, Friday 15 September...