Goyal (Administrator), in the matter of Aussie Cherries Ltd (Administrators Appointed) [2018] FCA 677

Goyal (Administrator), in the matter of Aussie Cherries Ltd (Administrators Appointed) [2018] FCA 677

The extension of the convening period is reasonable and appropriate given the likely benefit to creditors, absent objection from major creditors, the complexity of the company's affairs (notably the managed investment scheme and outstanding litigation), and no evidence of delay by administrators.

Jurisdiction
Australia
Judgment Date
03 May 2018
Procedural Posture
Corporations/insolvency Application / Interlocutory—application for Extension of Convening Period
Outcome
Application granted; convening period extended.
Legal Topics
['extension of Convening Period' "creditors' Meetings" 'voluntary Administration']
['insolvency' 'corporations Law'] ['extension of Convening Period' "creditors' Meetings" 'voluntary Administration']

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 2 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Corporations/insolvency Application / Interlocutory—application for Extension of Convening Period

Legal Issues

  1. 1 ["Whether it is appropriate to extend the convening period for the second creditors' meeting under s 439A(6) of the Corporations Act 2001 (Cth)" 'Whether the legal and factual circumstances justify orders under s 447A of the Corporations Act 2001 (Cth)']

Ratio Decidendi

The extension of the convening period is reasonable and appropriate given the likely benefit to creditors, absent objection from major creditors, the complexity of the company's affairs (notably the managed investment scheme and outstanding litigation), and no evidence of delay by administrators.

Court Disposition

Application granted; convening period extended.

Orders

  • ['Originating process made returnable instanter.' 'Confidential exhibit RG-2 marked confidential and filed electronically, not to be published or accessed except by further order.' "Convening period for second creditors' meeting extended to midnight 7 June 2018." 'Second meeting to be held any time during or up to...