Kirk, in the matter of RL Adams Pty Ltd (Administrators Appointed) [2017] FCA 1111

Kirk, in the matter of RL Adams Pty Ltd (Administrators Appointed) [2017] FCA 1111

Given the complexity of the business, importance of a sale as a going concern, need for adequate investigation and compliance with environmental obligations, and the absence of objection from creditors or the regulator, it is appropriate to grant the extension of the convening period sought by the administrators.

Jurisdiction
Australia
Judgment Date
05 July 2017
Procedural Posture
Corporations/commercial Insolvency Application / Application to Extend Convening Period for Second Meeting of Creditors
Outcome
Extension of time granted; orders made as sought by administrators.
Legal Topics
['extension of Convening Period for Second Meeting of Creditors' 'voluntary Administration' 'sale of Business as Going Concern' 'duties and Liabilities of Administrators' 'environmental Regulation in Insolvency']
['bankruptcy and Insolvency' 'corporations Law'] ['extension of Convening Period for Second Meeting of Creditors' 'voluntary Administration' 'sale of Business as Going Concern' 'duties and Liabilities of Administrators' 'environmental Regulation in Insolvency']

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Procedural Posture

Corporations/commercial Insolvency Application / Application to Extend Convening Period for Second Meeting of Creditors

Legal Issues

  1. 1 ['Whether to grant an extension of time to convene the second meeting of creditors under s 439A(6) of the Corporations Act 2001 (Cth)' 'Whether the administrators have demonstrated sufficient reasons for the extension, including business sale as a going concern and complex regulatory issues']

Ratio Decidendi

Given the complexity of the business, importance of a sale as a going concern, need for adequate investigation and compliance with environmental obligations, and the absence of objection from creditors or the regulator, it is appropriate to grant the extension of the convening period sought by the administrators.

Court Disposition

Extension of time granted; orders made as sought by administrators.

Orders

  • ['Leave to file amended originating application granted.' 'Period to convene the second meetings of creditors extended to 3 November 2017.' 'Second meetings of creditors may be held at any time during, or within 5 business days after the end of, the convening period as extended.' 'Administrators must publish and...