Strawbridge (Administrator), in the matter of CBCH Group Pty Ltd (Administrators Appointed) (No 4) [2020] FCA 671

Strawbridge (Administrator), in the matter of CBCH Group Pty Ltd (Administrators Appointed) (No 4) [2020] FCA 671

Granting the extension of the convening period will facilitate the administrators’ strategies (including mothballing, reopening stores, and pursuing a sale or recapitalisation) which is likely to produce a better outcome for creditors and employees; no prejudice to creditors was identified, no opposition was raised, and confidentiality orders are justified to protect business value and administration effectiveness.

Jurisdiction
Australia
Judgment Date
08 May 2020
Procedural Posture
Application Under Corporations Act / Second Application for Extension of Convening Period for Creditors’ Meeting
Outcome
Application allowed; orders made extending convening period and continuing confidentiality.
Legal Topics
['extension of Convening Period' 'voluntary Administration' "creditors' Meetings" 'suppression Orders' 'covid 19 Business Interruption']
['corporations Law' 'corporate Insolvency'] ['extension of Convening Period' 'voluntary Administration' "creditors' Meetings" 'suppression Orders' 'covid 19 Business Interruption']

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Procedural Posture

Application Under Corporations Act / Second Application for Extension of Convening Period for Creditors’ Meeting

Legal Issues

  1. 1 ['Whether there should be a further extension of the convening period for the creditors’ meeting under s 447A(1) of the Corporations Act 2001 (Cth)' 'Whether confidentiality orders should be extended under s 37AF of the Federal Court of Australia Act 1976 (Cth)']

Ratio Decidendi

Granting the extension of the convening period will facilitate the administrators’ strategies (including mothballing, reopening stores, and pursuing a sale or recapitalisation) which is likely to produce a better outcome for creditors and employees; no prejudice to creditors was identified, no opposition was raised, and confidentiality orders are justified to protect business value and administration effectiveness.

Court Disposition

Application allowed; orders made extending convening period and continuing confidentiality.

Orders

  • ['Leave to file further amended originating process granted.' 'Confidentiality orders over specified affidavits and exhibits extended to 3 September 2020.' 'Convening period for each company in the Colette Group extended up to and including 27 August 2020, with meetings to be held within 5 business days thereafter.'...