Kaso, in the matter of Blindware Pty Ltd (Administrators Appointed) [2019] FCA 997

Kaso, in the matter of Blindware Pty Ltd (Administrators Appointed) [2019] FCA 997

There are persuasive reasons, consistent with the objects and purposes of Pt 5.3A of the Corporations Act, to grant the administrators an extension of the convening period for the second meeting of creditors to allow completion of investigations and sale process, in the interest of maximising returns to creditors, with the extension not being opposed by stakeholders and proper notice arrangements being in place.

Jurisdiction
Australia
Judgment Date
24 June 2019
Procedural Posture
Corporations Administration Application / Application to Extend Convening Period for Second Creditors Meeting
Outcome
Orders granted as sought; extension of convening period and ancillary orders made.
Legal Topics
['extension of Convening Period' "administrators' Powers and Duties" "creditors' Meetings" 'confidentiality Orders']
['corporations Law' 'insolvency'] ['extension of Convening Period' "administrators' Powers and Duties" "creditors' Meetings" 'confidentiality Orders']

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Procedural Posture

Corporations Administration Application / Application to Extend Convening Period for Second Creditors Meeting

Legal Issues

  1. 1 ['Whether the convening period for the second meeting of creditors should be extended under s 439A(6) and s 447A of the Corporations Act 2001 (Cth)' 'Whether ancillary confidentiality and procedural orders should be made']

Ratio Decidendi

There are persuasive reasons, consistent with the objects and purposes of Pt 5.3A of the Corporations Act, to grant the administrators an extension of the convening period for the second meeting of creditors to allow completion of investigations and sale process, in the interest of maximising returns to creditors, with the extension not being opposed by stakeholders and proper notice arrangements being in place.

Court Disposition

Orders granted as sought; extension of convening period and ancillary orders made.

Orders

  • ['Convening period for second creditors meeting of Blindware Pty Ltd extended to and including 26 September 2019.' 'Pt 5.3A of the Corporations Act 2001 is to operate as if the meeting may be held during or up to five business days after the extended convening period.' 'Plaintiffs to notify creditors of these orders...